The phytochemcal screening and the effect of orally administered ethanolic leaf extract of Piliostigma thonningii on Serum lipid profile of male albino wistar rats were determined. Extracts of the leaf were first screened for presence of phytochemicals using chemical methods. Fifteen (15) albino wistar rats were randomly assigned on the basis of average body weights into three groups of five (5) rats each, following acclimatization to laboratory and handling conditions. Animals in group I (control) were administered placebo (1mls) of distilled water. Group II was administered with 200mg/kg body weight of the extract and group III was administered 400 mg/kg body weight. Extract administration lasted for twenty one (21) days. Water and feeds were allowed ad libitum. At the end of dose administration, animals were sacrificed and blood obtained for lipid profile analysis of Total-cholesterol, Triglyceride, HDL-cholesterol, and LDL-cholesterol and Atherogenic risk predicator using standard methods. Results showed a dose dependent increase in total cholesterol, HDL – cholesterol, and Triacylglyceride and decrease in LDL – cholesterol. Phytochemical results revealed the presence of Flavonoids, Saponins, Tannins, Steroids, Phlobatannins, Terpenoids, Cardioglycosides, with steroids and flavonoids in excess. The Atherogenic risk predictor indices HDL – C/TC, increase with increasing dosage but LDL – C/ HDL – C decrease only at the treated with 200mg/kg body. There was hypercholesterolemia and hypertrigliceridemia, although at 200mg/kg body weight there appear to be a favourable impact on good cholesterol, (HDL). These was not so at 400mg/kg body weight.