The objective of the present study was to design and evaluate sustained release tablet of Carvedilol Phosphate employing semi-synthetic polymers Methocel K4M CR and Methocel K15M CR as release retarding materials. Two sets of formulations prepared where first set of five formulations (F1-F5) contained variable ratios of polymers and second set of ten formulations (F6-F15) contained variable ratios of three different dissolution enhancers, namely Sodium Lauryl Sulfate (SLS), PEG 6000 and Poloxamer 188. An increase in release rate of the drug from the tablet matrix was observed by decreasing the polymers percentage, specifically Methocel K15 M CR. The tablet matrices prepared using SLS showed a higher dissolution rate and gave a dissolution profile that was comparable to the theoretical sustained release needed for once daily administration of Carvedilol Phosphate. The order of dissolution enhancing power was: SLS > PEG 6000 > Poloxamer 188.