The present invention relates to the stable pharmaceutical compositions comprising PEG-interferon alpha-2b. More particularly, it relates to the stable pharmaceutical compositions comprising PEG-interferon alpha-2b and cryoprotectant selected from the group consisting of 2-Hydroxy propyl beta-cyclodextrin, sucralose, or polyvinylpyrrolidone 4000. It also relates to the methods of manufacturing the composition, method of administration and kits containing the same.