The present invention relates to a stable pharmaceutical composition of saxagliptin or salts thereof. In particular, the invention relates to composition comprising plurality of saxagliptin components. Such composition of saxagliptin exhibit relatively improved storage stability and particularly, levels of degradants in the formulation during storage can be effectively controlled. The invention also includes a process of preparing such compositions and method of treating type-II diabetes mellitus by administering the composition to a patient in need thereof.