The present study deals with studies on Cilostazol & $\beta$-cyclodextrin($\beta$CD) inclusion complexs. . The present research work describes formation of Cilostazol & $\beta$-cyclodextrin complexes. using Kneading, Coevaporation & physical mixture with molar proportion of $\beta$-CD (1:1). Cilostazol,6-[4-(1-cyclohexyl-1H-tetrazol-5-yl)-3,4-dihydro- 2(1H)-quinolinone.is a vasorelaxent drug & act as a platelet aggregation inhibitor. Cilostazol exhibits low aqueous solubility, which accounts variability in oral bioavailability. Hence, the main objective of study was to investigate the possibility of improving the solubility & dissolution rate of Cilostazol via complexation with $\beta$-CD. Phase solubility studies revealed the existence of 1:1 complex between cilostazol and $\beta$-CD.Prepared inclusion complexes were characterized by I.R, UV. In vitro release of Cilostazol from inclusion complexes were studied by dissolution study in 0.1N HCl, pH 6.8 and distilled water. It was observed that complexes exhibit higher dissolution rates than the pure drug.