In the present paper, a lifetime distribution named, "Ishita distribution" for modeling lifetime data from biomedical science and engineering has been proposed. Statistical properties of the distribution including its shape, moments, skewness, kurtosis, hazard rate function, mean residual life function, stochastic ordering, mean deviations, order statistics, Bonferroni and Lorenz curves, Renyi entropy measure, stress-strength reliability have been discussed. The condition under which Ishita distribution is over-dispersed, equi-dispersed, and under-dispersed are presented along with the conditions under which Akash distribution, introduced by Shanker [1], Lindley distribution, introduced by Lindley [2] and exponential distribution are over-dispersed, equi-dispersed and under-dispersed. Method of maximum likelihood estimation and method of moments have been discussed for estimating the parameter of the proposed distribution. Finally, the goodness of fit of the proposed distribution have been discussed and illustrated with two real lifetime data sets and the fit has been compared with exponential, Lindley and Akash distributions.