In the present study, Solid Dispersion of Propranolol Hydrochloride were prepared using solvent evaporation technique using PEG 4000, PVP K-30 and PVA. However absolute bioavailability of Propranololo Hydrochloride is about 30% . To increase the solubility, solid dispersion was prepared. Preliminary solubility analysis was carried out for the selection of carriers and solid dispersion was prepared with PVA, PEG 4000, PVP-K30. These solid dispersions were analyzed for the solubility and In-vitro dissolution profile, solid dispersion of drug with PEG 4000 had shown enhanced solubility with improved dissolution rate. Further FTIR, DSC, SEM studies were carried out. Solid dispersion prepared with PEG 4000 shows the presence of amorphous form confirmed by the characterization study .The study also shows that dissolution rate of Propranolol Hydrochloride can be enhanced to considerable extent by solid dispersion technique with PEG 4000.