The present study was carried out to investigate the antihyperlipidemic and antihyperglycemic properties of the ethanol extract of Naregamia alata in alloxan induced diabetic rats(150mg/Kg). The ethanol extract of Naregamia alataat a dose of 200mg/kg of body weight were administered at single dose per day to diabetes induced rats. The effect of ethanol extract of N. alata extract on body weight, blood glucose, plasma insulin, glucose, urea, creatinine, glycosylated haemoglobin, serum protein, albumin, globulin, serum enzymes [serum glutamate oxaloacetate transaminases (SGOT),serum glutamate pyruvate transaminases (SGPT) and alkaline phosphatase (ALP)], serum lipid profile [total cholesterol (TR), triglycerides (TG), high density lipoprotein – cholesterol (HDL-C), very low density lipoprotein – cholesterol (VLDL-C), low density lipoprotein – cholesterol (LDLC), and phospholipid (PL)] were measured in the diabetic rats. Treatment with N. alata and standard drug caused significant (p<0.05) changes compared to the untreated animals with respect to various parameters like body weight, blood glucose level, SGOT, ALP, TC and LDL. From the above results, it is concluded that ethanol extract of N. alata possesses significant antihyperglycemic and antihyperlipidemic effects in alloxan induced diabetic rats.