The ethanol and aqueous extracts of stem of Ipomoea reniformis Chois (Family: Convolvulus) was investigated for its antihyperglycemic and antihyperlipidaemic effects of alloxan induced diabetic rats. Diabetes was induced by administration of single dose of alloxan monohydrate (150 mg/kg b. wt). Ethanol and aqueous extracts of I. reniformis at doses of 300 and 600 mg/kg b. wt were administered as a single dose per day to diabetes rats for the period of 12 days, respectively. The effect of extracts of I. reniformis on blood glucose levels, serum lipid profile (Total cholesterol, triglycerides, phospholipids, low density, very low density and high density lipoprotein) and serum enzymes (ALT, ASP, ALP) were measured in the diabetic rats. The extracts of I. reniformis exhibited significant antihyperglycemic and antihyperlipidaemic effects on alloxan induced diabetic rats when compared to the standard drug (Metformin 250 mg/kg). An oral glucose tolerance test (OGTT) was also performed, in which there was a significant improvement in glucose tolerance in rats treated with extracts. A comparison was made between the extracts and antidiabetic drug- glibenclamide (500μg/kg). The present investigation of this plant established pharmacological evidence to support the folklore claim that it is an anti-diabetic agent.