Objectives: A prospective study, to establish the underlying pathology and evaluation of patients with pancytopenia. Materials and Methods: A total of 11 cases of pancytopenia were analyzed over a period of One month i.e. from 1 st August to 31 st August-05 at Department of Pathology, Vijayanagar Institute of Medical Sciences, Bellary, Karnataka. All patients who presented with pallor, fever, generalized weakness, and diarrhoea were subjected to complete hemogram and were included in the study based upon the laboratory results. Criteria to consider a case to be pancytopenic are hemoglobin <5g/dl, TLC < 4000/cumm, and platelet count < 1, 50,000/cumm. Patients who had undergone blood transfusion and aged more than 65yrs were excluded from the study. A detailed history and clinical examination was carried out in each case and the relevant information was noted in a proforma. Bone marrow aspiration was performed using Salah’s bone marrow aspiration needle from the iliac crest or sternum. A full blood count was done, peripheral smear and reticulocyte count was also performed in each case. Bone marrow smears were stained with Leishman, Giemsa and iron stain wherever necessary. Results: All patients presented with pallor. Other complaints are fever, generalized weakness, cough, and diarrhea in descending order. The youngest patient being 16yrs old and the oldest patient 58yr old. M: F ratio being 7:4 showing the higher prevalence of the disease in male than in female. Majority of the patients fall in the middle class of socioeconomic group. The most common cause of pancytopenia as revealed by bone marrow was Megaloblastic anemia (73%) and Aplastic anemia (27%). Conclusion: Megaloblastic anemia and Aplastic anemia are the common causes of pancytopenia. M: F ratio being 7:4. Majority of the patients fall under the age group of 26-35yrs (54%) and in the middle class of socioeconomic group.