The purpose of this study was to develop pharmaceutically active buccoadhesive wafer formulations containing Loratadine and mathematically optimize the influence of bioadhesive polymer Sod. CMC and Lactose monohydrate as an ingredient of wafer base matrix, on the physicochemical and drug release performance from the prepared wafers. The wafers, which were prepared by the solvent casting method, were smooth and elegant in appearance; uniform in thickness, weight and drug content; showed no visible cracks; and demonstrated good folding endurance. A $3^2$ factorial design was employed to study the effect of independent variables like Sod. CMC and Lactose monohydrate, which significantly influenced characteristics like buccoadhesion, swelling index, disintegration time and t70 % of the prepared wafers. The drug-excipients interaction studies performed by ATR-FTIR, DSC and XRD revealed drug polymer compatibility within the wafer formulation. Surface morphology of the prepared wafers were studied by using SEM. Drug release study in the buccal environment showed the efficacy of the wafers to release drug within a very short span of time. Thus a conclusion might be brought forward that the present buccal wafer formulation could be an ideal system improving the bioavailability of the drug by avoiding hepatic first pass metabolism and would be an ideal alternative for the patients suffering with dysphagia.