Pancytopenia is a common hematological finding resulting from varieties of disease processe~ that require evaluation of bone marrow. Objective: to evaluate bone marrow findings in patients presenting with pancytopenia. Materials and Method: prospective and restrospective cross sectional study carried out to identify the causes of pancytopenia of 245 patients with different indications based on bone marrow examination from 1/2008 to 8/2013. Results: 245 cases fulfilled the criteria of pancytopenia. Trephine biopsy was possible only in 51 cases. In 36/51 cases (70,5 percent) aspiration findings were similar to biopsy. Mean age of patients was 56,3 years (from 9 to 86 years). Maximum number of cases was seen in age group of above 45 years (67,9 percent). Hypoplastic anemia was the commonest cause (37,9 percent) followed by hematological malignancies (11,4 percent), megaloblastic anemia (6,1 percent) and bone marrow failure (5,3 percent). Bone marrow examination alone was able to establish the diagnosis in 75.1 percent cases. In rest marrow findings were nonspecific and in 8,5 percent cases findings were normal. Conclusion: Bone marrow aspiration coupled with trephine biopsy can diagnose majority but not all the cases of pancytopenia. Hypoplastic anemia, hematological malignancies and megaloblastic anemia and bone marrow failure are the commonest causes of pancytopenia.