A simple and sensitive visible spectrophotometric method has been developed for the quantitative estimation of Eltrombopag Olamine in its bulk and tablet dosage form. It is an orally active ethanolamine salt of Eltrombopag, a smallmolecule, nonpeptide thrombopoietin receptor agonist with megakaryopoiesis-stimulating activity. The maximum absorbance of drug was found at 425nm. Eltrombopag Olamine was found to be dissolved in Methanol so it was used as solvent for the conduction of work. Linearity range for the method was finalized as 3-18 μg/ml with R2 value of 0.9995. % RSD less than 2 which is well within indicates the method is precise and robust. The % recovery rate was found to be 100-101% indicating the method’s accuracy. The method was validated as per ICH guidelines provided and the results were found to be satisfactory. LOD & LOQ values were obtained as 0.150 & 0.456 respectively. Stability studies shows that the drug is unstable in various stress conditions like acid, base, water and oxidation.