Genetic variability and correlation coefficient were studied in fifty genotypes of bael fruit at Horticulture Reasearch Centre and laboratory of the Department of Horticulture, SVPUA&T, Meerut in two consecutive years 2013-14 and 2014-15. Data were recorded on 16 morphological and qualitative traits. Invariably commercially released cultivars Pant Shivani, Pant Aparna, Pant Sujata along with genotypes VB-28 and VB-23 exhibited higher yield and yield contributing traits. High values of GCV and PCV were observed for yield per tree, fruit pulp weight, fruit weight, seed weight, number of fruits per tree, ascorbic acid, skull weight, and reducing sugar. High heritability (in broad sense) along with high estimates of genetic advance (% of mean) was observed for almost all the characters viz. yield per tree, fruit weight, fruit pulp weight, skull weight, seed weight per fruit, T.S.S., ascorbic acid and total sugar. The present study also revealed the presence of great amount of genetic variability which offers bright prospects for its improvement  in near future.