Present survey was undertaken for ichthyofaunal diversity study in the Saralasagar Reservoir situated in Mahabubnagar district, Telangana state in India. The study was undertaken between March-2013 and February-2015 covering two hot and two wet seasons. The fish fauna of Saralasagar Reservoir was collected for the present study. A total of 33 fish species belongs to 7 orders, 22 genera of 13 families were recorded. Order Cypriniformes was most dominant group represented by 12 species followed by orders Perciformes with 9 species. Siluriformes with 8 species, Osteoglossiformes 1 species, Beloniformes 1 species, Anguilliformes 1 species and Synbranchiformes 1 Species. Thus the Saralasagar Reservoir has good potential for fish fauna. As usual in many instances, Cyprinidae was the most dominant family. Out of 33 fish species 26 have least concern status, 3 are near threatened, 2 are Vulnerable, one is not evaluated and one is data deficient. This is considered the first study on the ichthyofaunal diversity of Saralasagar Reservoir.