The effect of aqueous stem bark extract of Anogeissus leiocarpus on the histochemical and histomorphologic changes in the rat ovaries using PAS and Hematoxylin and eosin for light microscopy was studied in twentyfour (n=24) young adult wistar strain rat. Four experimental groups were assigned and received an extract concentration of 600mg/kg, 400mg/kg, and 200mg/kg as groups IV, III and II, while the control group (I) received distilled water, for the period of six (6) weeks. The histological slides of the ovaries showed no gross or histological changes as a result of the extract administration. The granulosa cells in the ovarian cortex indicate a PAS-positive reaction, thus confirming the accumulation of glycogen in the tissue as a result of the extract administration. The microscopic sections of the ovaries indicated that the extract does have an effect on folliculogenesis in a dose dependent pattern. There was a significant decrease in the number of primary and tertiary follicles observed in the high dose group IV (600mg/kg), and a significant increase in the number of primary follicle in group II (400mg/kg), compared with the control group (p<0.05). The study concluded that the stem bark extract of Anogeissus leiocarpus extract does have an effect on follicular dynamics.