Immunomodulation using medicinal plants provide an alternative to conventional chemotherapy of various diseases. Celastrus paniculatus is a member of Celastraceae family. The present study was undertaken to evaluate the immunomodulatory property of petroleum ether extract of seeds of Celastrus paniculatus (PECP) on immunological, hematological and oxidative stress parameters using pyrogallol induced immunosuppression model in rats. A dose of 500mg/kg was administered orally. The results of the study suggest that PECP stimulates humoral immunity as indicated by increase in antibody titre and cell mediated immunity as shown by mean percentage increase in paw volume. An increase in percent phagocytosis, hematological parameters like RBC count, WBC count, hemoglobin percentage and oxidative stress parameters such as superoxide dismutase, catalase, reduced glutathione and decrease in lipid peroxidation activities was observed. These findings lead to the conclusion that PECP has significant immunomodulatory and antioxidant property.