A new simple, selective, rapid, precise and accurate reverse phase HPLC method has been developed for simultaneous estimation of granisetron and dexamethasone. The method was developed using CPS Hypersil CN column (250×4.6 mm I.D.) with a mobile phase consisting of acetonitrile:buffer (100 mM Triethylamine adjusted to pH 3.0 with o-phosphoric acid) in ratio of 25:75 at a flow rate of 2 ml/min. Detection was carried out at 242 nm. The developed method was evaluated for various system suitability parameters and validated for linearity, accuracy, precision, LOD, LOQ as per ICH guidelines. It was also evaluated for bench top stability and freeze/thaw stability. The proposed method can be used for the estimation of these drugs in their combined dosage forms.