A simple and sensitive spectrophotometric method is developed for the estimation of Mycophenolic acid(MYCO) based on the formation of the coloured complex due to the involvement of Fe(II) formed through the oxidation of MYCO with Fe(III) and O-phenanthroline.The absorption maxima is found to be at 510nm.The method obey Beerâ??????????s law with in the limits (2-7.5μg/ml) and give reproducible results.The percentage recoveries in the formulations found to be 99.26 to 99.86 respectively.