Diabetes is a major metabolic disease of global concern. Ethanolic extract of Corchorus olitorius leaf was investigated for antidiabetic activity in alloxan-induced diabetic rats. A total of thirty-six albino rats (Rattus norvegicus) with body weight 150.50 AE 10.50 g were randomly selected into six groups (A-F). Group A animals were non-diabetic and received 0.5 mL distilled water, groups B, C, D, E and F were made diabetic by administration of alloxan monohydrate (150 mg/kg, body weight i.p). Group B was diabetic untreated, group C was diabetic and treated with glibenclamide, while groups D, E and F received the ethanolic extract of C. olitorius leaf at a dose of 200 mg/kg, 400 mg/kg and 800 mg/kg body weight respectively. Phytochemical screening showed the presence of flavonoids, tannins, saponins, phlobatannin anthraquinones, phenol and cardiac glycoside and saponin. The blood glucose of the alloxanized rats after 72 hours which ranged from 17.30-25.33 mmol/L were significantly (p < 0.05) and progressively reduced in treated groups which compared favorably with the standard drug group. The significantly (p < 0.05) elevated levels of serum and liver bilirubin (direct and total), transaminases (AST and ALT), alkaline phosphatase, urea, creatinine, total cholesterol, triglyceride, LDL-C, as well as reduced levels of total protein, globulin, albumin and HDL-C in the diabetic untreated rats were normalized upon treatment with ethanolic extract of C. olitorius leaf. These results suggest that the ethanolic extract of C. olitorius leaf possesses antihyperglycemic property with no major side effect hence it could be considered safe for the management of diabetes.