Background Adiponectin is an adipokine, having anti-inflammatory properties, the levels of which are reduced in metabolic syndrome. In psoriasis, it plays a preventive role by inhibiting the differentiation and proliferation of keratinocytes and decreasing the levels of the signature cytokine, IL-17. Aims and objectives To find a correlation between serum adiponectin levels and the severity of psoriasis and to compare these levels amongst patients with parameters of metabolic syndrome vs those without it. Materials and methods This was a cross-sectional observational study consisting of 60 cases of chronic plaque type psoriasis and 20 controls. Mild, moderate and severe disease was defined based on Psoriasis Area Severity Index (PASI). Serum samples were analyzed for fasting serum adiponectin levels. Results The mean serum adiponectin level among cases (16.07 ± 8.55 μg/ml) was significantly lower than controls (21.65 ± 8.07 μg/ml, P = .012). It was not only lower among cases with MetS (14.28 ± 7.95 μg/ml), but also in patients without MetS (17.35 ± 8.83 μg/ml). Serum adiponectin levels were negatively correlated to age, Body Mass Index (BMI), PASI, disease duration and Erythrocyte Sedimentation Rate(ESR). However, only the negative correlation with PASI ( P = .000), duration ( P = .005) and ESR ( P = .010), was statistically significant. Conclusion Serum adiponectin is decreased in psoriasis, independent of metabolic syndrome and is negatively correlated with disease severity and duration. Limitations Analysis on a larger sample size and response to treatment could not be assessed.