The main objective of the present study is to prepare solid dispersions and controlled drug delivery systems of felodipine, a poorly water soluble drug. With a view to improve the dissolution rate and promote uniform absorption and enhance bioavailability. In the current work, an attempt was made to prepare solid dispersion (common solvent method) by using PEG-6000 in the ratio of 1:1,1:2,1:3,1:4 and 1:9 drug polymer ratio. The complexes were studied for the in-vitro drug release. The dissolution profile shows 1:9 drug-polymer ratio complex gave higher dissolution rate. Further, the complex (1:9) was used to prepare agar spherules in the ratio of 1:5 and 1:10 drug/complex: agar ratio. These prepared spherules were studied for in-vitro drug release pattern. The in-vitro drug release data were plotted according to zero order, first order and Higuchi’s diffusion model. The former did not yield linear plot. The data were subjected to linear regression analysis and correlation co-efficient values for Higuchi’s plots are nearly approaching unity and hence it can be said that, the drug release in agar spherules occurs by diffusion through the hydrophilic matrix.