Background: Pancytopenia is a common problem in Pediatric age group. The etiology of pancytopenia varies widely in children, ranging from transient viral suppression of marrow to infiltration by fatal malignancy. Knowing the exact etiology is important for specific treatment and prognostication. Objectives: To study the clinical parameters and etiological profile of pancytopenia in hospitalized children. Material and methods: A cross sectional study was conducted at MGM, Medical College, Indore for 6 months from June 2018 to December 2018. Patients between age group 1 to 14 years presenting with pancytopenia were included in this study. Clinical features and etiological profile of patients with pancytopenia (Hb<10g/dl, TLC <4000 x 109/L, Platelet < 1x 109) was analysed. Results: In our study, aplastic anemia(26.4%)and leukemia(17.6%) were the most common causes of pancytopenia. Pallor was the most common clinical feature seen in 61.7% patients followed by fever, petechial hemorrhages and hepatosplenomegaly. Conclusion: Pancytopenia has a diverse etiology. In our study, aplastic anemia and leukemia were the most common causes of pancytopenia. Many causes of pancytopenia like infections and megaloblastic anemia are easily treatable. There is a need to be aware of the different etiologies and various investigative modalities so that appropriate treatment measures can be implemented at the earliest.