One hundred linseed (Linum usitatissimum L.) genotypes and four checks were evaluated during rabi, 2017-18 for fifteen traits to examine the nature and magnitude of variability, heritability (h2=broad sense) and genetic advance. Analysis of variance revealed that the differences among genotypes were significant for all the characters studied. Knowledge of selection effect on positive or negative changes of a character under improvement is of paramount importance for the success of any plant breeding programme and helps the selection of desirable breeding methods. Heritability and genetic advance are important selection parameters and selection success is a reflectance of selection response. High PCV and GCV values exhibited for number of branches per plant, number of capsules per plant, yield per plant, palmitic acid and linoleic acid indicating wide range of variability with substantial environmental influence on the expression of these traits and provide better opportunity for improvement of these traits through selection. Small differences between GCV and PCV were recorded for all the characters studied which indicated less influence of environment on these characters. High heritability coupled with high Genetic advance as per cent of Mean (GAM >20%) observed for plant height, technical plant height, number of branches per plant, number of capsules per plant, yield per plant, palmitic acid, stearic acid, oleic acid, linoleic acid and linolenic acid indicated that these characters are highly heritable.