The present invention provides pharmaceutical composition of immunosuppressive agent in oral suspension dosage form. The oral suspension composition comprises of immunosuppressive agent with other pharmaceutical excipients such as vehicle, suspending agent, solvent or cosolvent, preservative, sweetener, antifoaming agent, wetting agent, buffering agent and flavouring agent. The present invention oral suspension having improved stability, palatability with high dose of active ingredient. The present invention provides oral suspension with flavor that has masked bitter taste of the drug and eliminates difficulty of administration. Further, the present invention also provides a convenient, easy process for preparation thereof.