Aims: To evaluate the efficacy, safety and tolerability of atosiban in delaying preterm labour. Methodology: Pregnant women (N=60) between the gestational age of 28 to 34 weeks, presenting with signs of preterm labour were enrolled in the study. Efficacy, safety and tolerability of Atosiban were assessed for a period of 72 hrs. Results: Fifty Two patients (86.66%) remained undelivered up to 72 hrs after completion of treatment phase and fifty one patients (85.00%) till the end of their hospital stay (upto 7 days). The study medication was well tolerated as no adverse events were observed throughout the study duration. Conclusion: Atosiban, an oxytocin receptor antagonist, has proven to be an effective and well tolerated tocolytic drug and because of its favourable safety profile, it may be the best choice as a tocolytic therapy to delay the preterm labour.