The disclosure relates to a sustained release pharmaceutical composition, preferably in the form of granules, which includes bioavailable curcuminoid formulation as active component and rate controlling excipients such as ethyl cellulose, shellac, copolymer of ethyl acrylate and methyl methacrylate, acrylic acid copolymers, hydroxy propyl methyl cellulose (HPMC), hydroxy propyl cellulose etc either alone or in combination. Bioavailable curcuminoid formulation is a blend of curcumin, demethoxy curcumin, bisdemethoxy curcumin and essential oil of turmeric.