The effect of Phaseolus vulgaris on blood glucose, plasma insulin, serum lipids and antioxidants was studied in rats with streptozotocin-induced diabetes mellitus. Oral administration of chloroform extract, ethyl acetate extract and aqueous extract of Phaseolus vulgaris pods to the streptozotocinized rats in daily doses of 35 mg/kg, 35 mg/kg and 200 mg/kg respectively for 45 days reduced the elevated blood glucose, serum triglycerides and serum total cholesterol. The extracts also caused a significant decrease in serum MDA levels. The decreased serum levels of high-density lipoprotein cholesterol, plasma insulin levels, blood reduced glutathione and serum selenium in the diabetic rats increased towards normalization. These results show the anti-diabetic action of the three different extracts in addition to their antihyperlipidaemic and anti-oxidant properties.