A timed release pharmaceutical composition comprising donepezil is provided, wherein the composition exhibits the in vitro dissolution profile when tested in a Paddle dissolution apparatus at 50 rpm in 900 ml 6.8 buffer at 37°C, less than about 20% w/w of donepezil is released in 3 to 6 hrs, and more than 90% w/w of donepezil is released after 12 hrs.