A comparative study of antifungal activity of ethanolic extracts of the leaves and seeds of Annonasquamosa L. (A plant of Annonaceae Family, commonly known as custard apple-sitafal) were evaluated against four fungi namely, Rhizopusnigricans, Aspergillusniger, Culvularialunata and Cladosporiumcladosporioides using agar well and disc diffusion method. Maximum inhibition was found with 50mg/ml concentration of ethanolic seed extracts against all the tested organisms under investigation. The study suggests that the seeds of A. squamosa are promising source for the development of suitable phytomedicine having fungicidal properties in place of commonly and widely used chemical antifungal agents.