The present invention relates to an oral self-emulsifying formulation comprising CyA and Vitamin E TPGS as an antioxidant. The present invention formulation provides enhance oral bioavailability and reduced nephrotoxicity induced by CyA. The formulation provides 4.46 times oral bioavailability compared with free CyA and 1.46 times compared to marketed CyA formulation (Bioral®). The present formulation is easy to prepare, cheap, stable at accelerated stability and freeze thaw conditions. Also, the formulation provides high level of manufacturing scalability and industrial adaptability.