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The present investigation was taken up to prepare and evaluate a transdermal drug delivery system (patch) of Raloxifene Hydrochloride to increase its bioavailability. The matrix type patches were prepared using different ratios of Eudragit RL100, Poly vinyl Pyrrolidone K-30, HPMC, CAP and PEG6000 in different ratios. All the prepared formulations were subjected to physical studies (weight variation, thickness, moisture content, moisture uptake, flatness, Water Vapour transmission rate, folding endurance, tensile strength, and% elongation), thumb tack test, in vitro release studies, and in vitro diffusion studies. In vitro permeation studies were performed using artificial membrane and across skin derived from albino rat. The accelerated stability studies for the formulations were performed as per the ICH guidelines. The studies showed that formulation prepared with HPMC and CAP in ratio 5: 2 with adhesive polyisobutylene and Eudragit RL100 & PVP in ratio 6: 4 (self sticking) were the effective systems to achieve desired results. The interaction studies carried out by comparing the results of TLC, Infrared and UV analysis of pure drug and medicated patches indicated no chemical interaction between drug and excipients.