The objective of the present work is extraction of pectin from waste of orange fruit peel and further characterization for useful alternative pharmaceutical excipient. The pectin was subjected to phytochemical and physicochemical characterization of its safety and suitability to use as binding and suspending agent. FT-IR spectroscopy, DSC studies were performed for drug, orange peel pectin powder, prepared tablet and suspension formulations. Aceclofenac tablets were prepared by wet granulation method containing mannitol as diluent; using 2.5, 5, 7.5 and 10 %w/w of orange peel pectin powder and 7.5 %w/w of PVP (reference) as binding agents in the tablet formulation. Aceclofenac suspensions were prepared with orange peel pectin powder at 0.5, 1, 1.5 and 2 %w/v as suspending agent and 1.5 %w/v of sodium CMC as reference suspending agent. Pharmaceutical properties of granules and tablets such as carr’s index, Haunser’s ratio and angle of repose and post compression parameters like friability, hardness, and disintegration time studies were determine and found satisfactory. The evaluation test of suspension like sedimentation volume, redispersibility, pH, degree of flocculation were found satisfactory. In vitro release studies shows that release rate of drug is decreased with increase in the orange peel pectin powder percentage in the formulation. Orange peel pectin powder showed good binding and suspending properties at 10 %w/w and 2 %w/v, respectively.