The aim of the present study was to formulate the novel pediatric suspension containing nanoparticulate Zafirlukast (ZFR) for the treatment of pediatric asthma. The ZFR loaded nanoparticles (NPs) were formulated by ionotropic external gelation method using tripolyphosphate (TPP) and Tween 80. NPs were characterized for drug loading, encapsulation efficiency, surface morphology, saturation solubility, particle size, zeta potential and polydispersity index (PDI). The optimized NP formulation was used for the development of suspension. The suspensions were characterized for pH, viscosity, sedimentation volume, dissolution and drug content. The encapsulation efficiency of NPs was found between 93.24% and 98.57% with drug loading in the range of 26.50-35.90%. All formulations were found of nanosized in nature (150-220 nm) with zeta potential (19.18-21.41 mV). PDI of all NP formulations was found less than 0.3. The NPs were spherical and smooth in nature. The saturation solubility of ZFR was enhanced nearly 16 times as compared to pure ZFR. The optimized suspension showed almost 100% ZFR release within the period of 30 min. The reduction in lung resistance (RI) was found nearly four fold as compared to the control group animals. The study supported the efficacy of suspension containing nanoparticulate ZFR in asthmatic animals.This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.