Gastroretentive dosage forms (GRDF) enable prolonged and continuous input of the drug to the upper parts of the gastrointestinal tract and improve the bioavailability of medications those are characterized by a narrow absorption window. The aim of this study was first to develop and physico-chemically characterize an optimal single unit bilayer floating tablet for Carvedilol phosphate (CP) prepared by direct compression technology secondly use Ocimum basilicum mucilage (OBM) as a gelling, swelling and sustaining polymer in combination with HPMC and compared their drug release profile with marketed sustained release formulation for once-a-day administration of Carvedilol. Effect of OBM and its concentration on tablet properties such as hardness, friability, floating characteristics, swelling properties, tablet erosion and release patterns were evaluated. The release rate and floating characteristics could effectively be modified by varying ‘‘matrix forming swelling polymer, gas-generating agent’’ ratio. Drug release in optimized formulation was approximately 93.80% in 24 h in vitro and floating lag time around 5 min. The results showed floating tablets are a feasible approach for the sustained release (SR) preparation of CP.