An extended release formulation for administration of venlafaxine in an oral tablet dosage form. The formulation preferably features a core, over which an outer coating is layered. The core preferably contains venlafaxine, a filler, and a water soluble cellulosic polymer, optionally and more preferably with a water insoluble cellulosic polymer. The core is preferably coated with a coating material. The coating preferably contains a mixture of water soluble cellulosic polymer and a water insoluble cellulosic polymer. According to a first embodiment of the present invention, the filler is preferably present in an amount of at least about 40% weight per weight of the total formulation. More preferably, the filler comprises microcrystalline cellulose. Most preferably, the filler solely comprises microcrystalline cellulose. Also most preferably, microcrystalline cellulose is present in the core in a range of from about 45% to about 65% weight per weight of the total formulation.