The aim of this study was to investigate the association of axial length (AL)/corneal radius of curvature (CRC) ratio (AL/CRC) with spherical equivalent refractive state (SER) in young adults. A total of seventy (n = 70) subjects consisting of 31 males and 39 females participated in this study. Subjects were categorized into emmetropia, hyperopia and myopia using the spherical equivalent refraction. The axial length was measured with I-2100 A-Scan ultrasonography/Biometer (CIMA Technology, USA), the corneal radius of curvature with Bausch & Lomb H-135A (Bausch & Lomb Corp., USA), and the refractive state by static retinoscopy and subjective refraction. The mean AL, CRC and AL/CRC ratio of all subjects were 23.74 ± 0.70 mm, 7.84 ± 0.19 mm, and 3.03 ± 0.14, respectively. Myopes had significantly longer AL, steeper CRC and higher AL/CRC ratio than the emmetropes and hyperopes. There was statistically significant inverse correlation between AL and CRC (r = −0.53, P < 0.0001), SER (r = −0.64, P < 0.0001), and between SER and AL/CRC (r = −0.78, P < 0.0001). A significant positive correlation was found between CRC and SER (r = −0.69, P < 0.0001). The categorization of the refractive state of an individual is better done by using the AL/CRC ratio index.