Swietenia macrophylla King. is an exotic species from Latin America. It had been planted in Indonesia since 1870 by the Dutch. This species is important construction timber in Indonesia. This study aimed to measure variation and genetic parameter estimation of S. macrophylla seedling as material of progeny trial development. The experimental design used Randomized Complete Block Design (RCBD) consisting of two factors, namely the land race (A) (Banjar-West Java, Samigaluh-Kulonprogro, Bondowoso-East Java and Lombok-West Nusa Tenggara) and mother trees (B) (35 mother trees). Five seedlings were recorded and repeated 5 times for each mother tree. In this study factor B nested in factor A. The result showed that land race significantly affected to height, stem diameter, and index of robustness; while the mother trees significantly affected to height, stem diameter, number of leaf, and index of robustness. Individual heritability of height, stem diameter, number of leaf, and index of robustness character were 0.35, 0.40, 0.17, and 0.48 respectively, while family heritability of height, stem diameter, number of leaf, and index of robustness character were 0.74, 0.75, 0.54, and 0.77 respectively. Genetic correlation between height and stem diameter (0.70), height and index of robustness (0.40), number of leaf and index of robustness (0.52) were positive value. While genetic correlation between height and number of leaf (-0.03), stem diameter and number of leaf (-0.46) and stem diameter and index of robustness (-0.67) were negative value.