The leaves of Madhuca (M.) indica J.f.Gmel. (Sapotaceae) have been used traditionally in folk medicine due to its astringent properties and are effective in treatment of eczema and snake bites. Methanolic extract of M. indica is rich in tannins and has been proven experimentally to possess antibacterial activity. The present study was undertaken to evaluate the anti-ulcer and antioxidant activity of M. indica in rats. The methanolic extract of leaves of M. indica was tested at various doses (75, 150 and 300 mg/kg, p.o.) for its effect on gastric secretion and gastric ulcers in pylorus-ligation and on ethanol- induced gastric mucosal injury in rats. The significant reduction in ulcer index in both the models along with an increase in the pH of the gastric fluid and mucin content of stomach, and the acid secretory parameters such as total acidity and volume of gastric fluid were also significantly reduced along with reduction in the pepsin activity in pylorusligated rats proved the anti-ulcer activity of M. indica. The increase in the levels of superoxide dismutase, catalase and reduced glutathione and decrease in lipid peroxidation in both the models proved the antioxidant activity of M. indica. Thus it can be concluded that M. indica possesses anti-ulcer activity, which can be attributed to its antioxidant mechanism of action.