The solubility and dissolution properties of any drug are vital determinants of its oral bioavailability. The effect of hydroxyl propyl beta cyclodextrin, on the dissolution, bioavailability was evaluated using a commercial suspension as reference product. Both formulations were orally administered in mice. Plasma samples were taken at different times, and drug concentration was assayed by HPLC. Due to the rapid matabolization of ABZ its main metabolite albendazole-sulphoxide(ABZSO), which also has anthelmintic acivity, was assayed. The binary system containing Albendazole and hydroxyl propyl beta cyclodextrin is prepared by kneading method and complex formed is characterized using scanning electron microscope (SEM), DTA, FTIR. .And this binary mixture is formulated into suspension form and optimization of was done by selecting different concentration of hydroypropyl beta cyclodextrin and the formulation is evaluated for sedimentation volume, redispersibility, pH measurement, viscosity measurement and drug content estimation at various time intervals for 3months to find out the effect of hydroy propyl beta cyclodextrin on the stability of Albendazole suspension. In vitro dissolution study, ex vivo study, histopathological studies ,in vitro anthelmintic activity, and zeta potential compared with two marketed formulations Zental and noworm and release rate of ABZ:HPβCD suspension were markedly higher compared with marketed formulation due to increase in the wetting properties of the drug. A bioavailability study on Albino wistar rat was done, bioavailability results shows that ABZ:HPβCD complexes had faster absorption than a conventional ABZ formulation.