Investigation on polyaryletherketone was carried out to observe ageing effect of gamma radiation for 1 day and 30 days on physico-mechanical and thermal properties such as tensile strength, tensile modulus, flexural modulus, flexural strength, Izod impact strength, elongation at break, glass transition temperature, melting temperature, melting enthalpy, degradation temperature and heat distortion temperature. Radiation doses of 10 kGy, 15 kGy, 20 kGy, 35 kGy and 45 kGy were applied to the sample and compared with non-radiated PAEK sample under study. Results have shown that physico-mechanical properties of PAEK found to be stable after 1 day and 1 month radiation dose upto 45 kGy. Results of DSC, TG and DTA thermograms suggested that different radiation doses produce insignificant variations in glass transition temperature, melting temperature, melting enthalpy and heat distortion temperature.However, ageing of the PAEK samples found to modify the thermal stability by increasing the thermal degradation temperature and crystalline fraction. Though thermal properties are improving slightly, it can be concluded that no appreciable variation is observed because simultaneous crosslinking and bond breaking is involved in the polymer chain. Fire retardancy test showed that irradiated PAEK samples (upto 45 kGy) is fire safe polymer.