Abstract: OBJECTIVE To prepare carvedilol hydroxypropyl-β-cyclodextrin(HP-β-CD) inclusion complex by ultrasonic method and to investigate its physical properties. METHODS The inclusion complex was prepared by ultrasonic method and analyzed by DSC, XRD, phase solubility and dissolution test. RESULTS The solubility of carvedilol increased with increasing HP-β-CD concentration, showing an AL type phase solubility diagram which revealed that the molar ratio of drug to HP-β-CD was 1∶1. The drug peak disappeared in the DSC and XRD which approved that the inclusion complex was prepared. CONCLUSION By forming inclusion complex with HP-β-CD, the solubility and dissolution rate of carvedilol was increased.