Rapidly-exploring Random Tree Star(RRT*) is a recently proposed extension of Rapidly-exploring Random Tree (RRT) algorithm that provides a collisionfree, asymptotically optimal path regardless of obstacles geometry in a given environment. However, one of the limitation in the RRT* algorithm is slow convergence to optimal path solution. As a result it consumes high memory as well as time due to the large number of iterations utilised in achieving optimal path solution. To overcome these limitations, we propose the Potential Function Based-RRT* (P-RRT*) that incorporates the Artificial Potential Field Algorithm in RRT*. The proposed algorithm allows a considerable decrease in the number of iterations and thus leads to more efficient memory utilization and an accelerated convergence rate. In order to illustrate the usefulness of the proposed algorithm * This is the authors' version of the paper published in Springer Autonomous Robots Journal. The source code of this paper is available at: github.com/ahq1993 with the name of p-rrtstar.in terms of space execution and convergence rate, this paper presents rigorous simulation based comparisons between the proposed techniques and RRT* under different environmental conditions. Moreover, both algorithms are also tested and compared under non-holonomic differential constraints.