The present work was aimed to develop and characterize rosuvastatin loaded self emulsifying drug delivery system for the effective management of hypolipidemia (RSEDDS) for improving bioavailability, to enhance solubility, to prolong residence time and to provide sufficient amount of drug to a target site in a sustained release manner. Self-emulsifying drug delivery system was prepared by simple emulsification technique, six batches i.e. f1 to f6 were prepared by varying the concentration of oils, surfactant, co-surfactant and co-solvent and evaluated for the various parameters, e.g. optical microscopy, assessment of self emulsification, emulsification time, droplet size analysis, zeta potential measurement, transmission electron microscopy, viscosity determination, drug content, percentage transmittance, in vitro dissolution study and stability studies. The RSEDDS was optimized and batch F5 was opted for further studies. The drug content of selected batch F5 was found to be 97.65 ± 1.37%, which suggests that method for encapsulation was effective. The results of in vitro drug release studies showed about 83% of the drug release within 180 minutes, which exhibit sustained release of drug. There were no significant changes observed in the physical appearance, drug content and in vitro release during stability studies. The studies reveal that the RSEDDS is a potential candidate for sustained release drug delivery which can successfully increase bioavailability.