Introduction: Pancytopenia is the reduction of all three cellular elements of peripheral blood, leading to anemia, leukopenia and thrombocytopenia, and clinico-hematological entity commonly encountered in clinical practice as a feature of a myriad of diseases, ranging from non-malignant disease to malignant neoplasms. Material and Methods: In our study, a total of 100 cases of pancytopenia were included. Complete evaluation of clinical findings, haematological indices and bone marrow examination were carried out. Results: In our study the most common cause of pancytopenia was megaloblastic anemia (44%), followed by dimorphic anemia or nutritional anemia (32%) and less commonly observed causes were acute leukemia and iron deficiency anemia. Most common anemia found to be macrocytic hypochromic. Hypercellular marrow was seen in 64% of cases, whereas hypocellular marrow was present in 8% of cases. Conclusion: Bone marrow aspiration and haematological parameters are useful, economical, and safe diagnostic tool in the evaluation of pancytopenia.