The present invention provides a biocompatible and biodegradable thermogelling composite composition which may be used as a local drug delivery system for controlled and sustained release of drug. More particularly, the present invention provides a thermogelling composite composition comprising a chitosan solution consisting of plurality of drug loaded polycaprolactone (PCL) particles, wherein the composition turns into gel with time and by increasing the pH and temperature. The present invention also provides a process for preparing the thermogelling composite composition.
