An investigation was done to assess the genetic variability, character associations, and genetic diversity of eight jute genotypes for seven morphological traits in a randomised complete block design at Bangladesh Jute Research Institute during 15 March, 2018 to 31 December, 2019. Analyses results revealed significant differences (P<0.01) among all genotypes for studied traits indicating the presence of variability. All the lines performed better than one control (JRO-524), and the line (O-0412-9-4) provided good results for desired traits than all controls. Jute fibre yield showed the highest broad sense heritability (98.54%). The studied jute morphological traits i.e. Plant population, the plant height, green weight, dry fibre yield and dry stick yield gave high heritability along with high genotypic and phenotypic variances, genetic advances in percent of the mean, highly significant and positive correlations. It indicates the possibility of crop improvement through phenotypic selection and maximum genetic gain, simultaneously at the genotypic-phenotypic level. Clustering analysis grouped all genotypes into three distinct clusters. The cluster II showed the highest mean values for all traits followed by cluster I and III. The first two principal components with higher Eigen values (>1.0) accounted for 90.88% of the total variation in the principal component analysis. PCA and cluster analyses indicated that the advanced breeding line O-0412-9-4 made its individual cluster II with higher inter-cluster distance and higher fibre yield (3.12 t ha-1). The investigation was done to select the genotype(s) with good fibre yield and distinct features in respect of developing high yielding Tossa jute variety for cultivation in the farmers’ field. This genotype O-0412-9-4 was selected based on higher plant height, base diameter, fibre yield content. It will be developed as a high yielding variety considering its’ higher genetic variability, heritability, genetic advance, significant associations for desirable characters.