In the present work, the aliphatic polycarbonate CR-39 with average thickness 260 µm was irradiated with different neutron fluences from the Cirus reactor, Bhabha Atomic Research Center, Mumbai. For all samples, the isochronal annealing was done in the temperature zone 130°-150°C, each for 45 min. The effect of annealing on irradiated samples was studied using UV-Visible and FTIR spectroscopic techniques. With UV-Vis analysis, the change in optical band gap and Urbach's energy with annealing for a particular dose have been revealed. The FTIR analysis of irradiated annealed samples indicates the partial repair of bonds on annealing at high temperatures.