Background: In chronic mental diseases, as the disease progresses, it carries with tremendous burden both physically and psychologically on the family members, who are usually in the process of caregiving. The quality of life (QOL) of these caregivers is directly related to the subjective and objective burden of the illness. The objective of the study was to assess and compare the level of family burden and QOL between caregivers of Schizophrenia and Dementia patients as well as to find out the relationship between family burden and QOL.Methods: A total of 128 key caregivers (64 caregivers of each group) fulfilling the inclusion criteria purposely selected from the OPD of MHI, S. C. B. Medical College and Neuropsychiatric Consultation Centre, Cuttack. The impact of family burden on key caregivers of dementia and schizophrenia patients was assessed by using family burden interview schedule and the quality of life of key caregivers was assessed by using WHOQOL BREF scale. Data was analysed by using chi-squre, t test and pearson correlation. Data analysis was performed by SPSS.Results: Statistical significant differences (p <0.05) were found in the areas of financial burden, disruptions of family routine activities, family leisure and family interaction between dementia and schizophrenia caregivers. Whereas there was no statistical significant difference (p >0.05) found in different domains of quality of life between these two groups of caregivers. There were significant negative correlations found between family burden and psychological, social relationships and environment domains of quality of life.Conclusions: Caregivers perceived subjective and objective burden ultimately affecting their QOL.