Introduction: In most of the medical colleges in India, practical examination in Anatomy is conducted in the form of conventional viva-voce. Viva-voce is however limited by its lack of validity, reliability and objectivity. Objective Structured Practical Examination (OSPE) has been proposed as objective, reliable and valid method of assessment. The present study was conducted to assess the feasibility of conducting OSPE in our setup and to determine perception of first year undergraduate medical students and anatomy faculties towards OSPE visa -vis viva-voce. Method: A total 200 1st MBBS students and 13 anatomy faculties participated in this study. The students were exposed to conventional viva followed by OSPE. The perception of students and faculties about conventional viva and OSPE was assessed through separate pre-tested, pre-validated structured feedback forms. Result: OSPE was conducted smoothly. Positive feedback was received from both students and faculties about quality of OSPE. Students perceived that OSPE was significantly better than viva-voce on parameters like effect of examiner's mood on scores awarded, personal bias, level of transparency, carry over effect, equal opportunity to all students and level of stress (p<0.0001). Overall 81% students opined that if option is given they will prefer OSPE. Less stress, no fear of examiner, equal opportunity for all students, less bias and sufficient time to think were reasons cited by students for favoring OSPE. All faculty favored appropriate combination of OSPE and viva voce. Conclusion: OSPE is preferred over conventional viva by students, while the faculty preferred appropriate combination of both these methods.