The present invention relates to novel polymorphic forms of Dexlansoprazole designated as Form I, II, III, IV, V and VI. The present invention also relates to novel processes for the preparation of polymorphic forms I, II, III, IV, V, VI, amorphous, crystalline anhydrous and sesquihydrate of Dexlansoprazole. The present invention further relates to novel Dexlansoprazole tartrate salt and its process for the preparation.