Background: Loculated pleural effusion is one of the most common clinical entities which are usually caused by empyema, tubercular pleural effusion, malignancy, and hemothorax. The role of Intra-pleural Fibrinolytic Therapy (IPFT) with various fibrinolytics has been studied, however its clinical, radiological and functional outcomes are not assessed completely. Objective : This is a pre and post intervention study conducted at tertiary care hospital to assess the role of IPFT with streptokinase in patients with loculated pleural effusion. Results: 102 patients underwent IPFT with streptokinase. Out of 102 patients, 84 patient were male and 18 were females. Main preprocedure diagnosis were tuberculosis (n=70), pneumonia (n=21) and malignancy (n=11). The patients were subdivided into three groups based on sonologically assessed amount of intrapleural fluid -Group 1 (<100ml), Group 2 (100-200ml) and Group 3 (>200ml). During pre and post IPFT procedure the number of patients identified in group 1 were 30 and 80, group 2 were 40 and 22, group 3 were 32 and none respectively. The mean residual pleural fluid drained before and after IPFT were 190.80ml and 57.84ml (p value<0.001), which had statistically significant reduction after IPFT. Mean FVC before and after IPFT were 46.43% and 69.56% (p value<0.05). Chest x-ray resolution was observed in 80 of the 102 patients with postprocedure IPFT (p value<0.05). Adverse effects noticed were chest pain, fever, tachycardia and bleeding. However no major bleeding was observed. Conclusion: IPFT with streptokinase is a safe option in loculated pleural effusion with no major adverse effects.