The present investigation was carried out during the kharif 2013 at Agriculture Research Station, Gulbarga to obtain the information on nature and magnitude of genetic parameters and its utilization in development of superior varieties of pigeonpea [Cajanus cajan (L.) Millsp.]. The genetic parameters viz., Phenotypic Co-efficient of Variability (PCV), Genotypic Coefficient of Variability (GCV), Heritability (h2), Genetic Advance (GA), correlation and path analysis were studied for seed yield and its component traits in 64 diverse genotypes which includes working collections and elite lines of pigeonpea. The results indicated that the genotypes showed significant variability for all the traits studied. The number of pods per plant, number of secondary branches and pod bearing length had positive and significant correlation with seed yield. Whereas days to 50% flowering had negative and significant correlation with seed yield. Based on variability and inter-character association studies, the genotypes IPPF-V3Y, PRIL-B-136, GRG-206, GRG-82 and PRIL-B-037 exhibited superiority in terms of seed yield per plant over best check.