Different genetic parameters for weaning weight and wool traits were estimated using restricted maximum likelihood (REML) in Angora rabbits. Total wool yield of first (I), second (II) and third (III) clips were taken as a separate trait under study. The records from more than 2,700 animals were analysed through fitting six animal models with various combinations of direct and maternal effects. A log likelihood ratio test was used to select the most appropriate model for each trait. Direct heritability estimates for the wool traits were found to be moderate to high across different models. Heritability estimates obtained from the best model were 0.24, 0.22, 0.20 and 0.21 for weaning weight, clip I, II and III; respectively. Maternal effects especially due to permanent environment had higher importance at clip I and found to be declining in subsequent clips. The estimates of repeatability of doe effect on wool traits were 0.44, 0.26 and 0.18 for clip I, II and III; respectively. Weaning weight had moderately high genetic correlations with clip I (0.57) and II (0.45), but very low (0.11) with clip III. Results indicated that genetic improvement for wool yield in Angora rabbit is possible through direct selection. Further, weaning weight could be considered as desirable trait for earliest indirect selection for wool yield in view of its high genetic correlation with wool traits.