A novel gastro retentive drug delivery system of Atenolol was formulated in an effort to increase gastric residence time and thereby increase drug bioavailability. Nine formulations of Atenolol tablets were prepared by direct compression and wet granulation technique using bees wax, ethyl cellulose and Cetosterol in varying proportions. Buoyancy was achieved by adding an effervescent mixture of sodium bicarbonate and anhydrous citric acid. Dicalcium phosphate was used as a channeling agent. The prepared tablets were evaluated for physicochemical parameters and found to be within range. The floating lag time of all the formulations was within the prescribed limit. In Vitro drug release studies were performed. Release pattern of Atenolol was fitted to different models based on coefficient of correlation (R)