In spite of the global decline in its incidence and mortality, gastric carcinoma still remains a major cause of death due to cancer. Early detection of gastric carcinoma is expected to reduce mortality rates. The applications of measuring of pepsinogen I and pepsinogen II are useful in screening of gastric carcinoma. This cross sectional comparative study was done to find out the correlation of histopathological pattern of gastric carcinoma with serum pepsinogen I & II ratio in the Department of Pathology, Sylhet MAG Osmani Medical College, Sylhet, Bangladesh from January 2010 to December 2010. For these purpose 40 patients with gastric carcinoma, endoscopically visible and histopathologically proved malignant lesions were enrolled as case group. Forty subjects with normal upper GI endoscopy were taken as control. Five ml of venous blood was taken from both case and control subjects to determine serum pepsinogen I and pepsinogen II level by ELISA method, subsequently pepsinogen I and II ratio was calculated. In this study different cut off values of serum pepsinogen I and II ratio was determined and the sensitivity, specificity, positive predictive value, negative predictive value and accuracy were 70.0%, 97.5% 96.6% 76.5% and 83.8% respectively, at cut off value of 6. Which is the most suitable cut off point of serum pepsinogen I and II ratio for gastric cancer screening.