Controlled release drug delivery System (CRDDS) is the major aspect of research in twentieth century into which Interpenetrating polymer network (IPN) based drug delivery system paying the important role in delivering the drug at predetermined rate. IPN is considered as one of the most useful novel biomaterial. Its biocompatible and biodegradable properties made this biomaterial as a novel excipient in the pharmaceutical industry. These systems are also used for tissue engineering such as cartilage scaffolds, bone substitutes etc. The excellent physiochemical attributes such as providing stability to the formulations, improves solubility of hydrophobic drugs, excellent swelling capacity and its biodegradability, impart bioavailability, drug targeting in a specific tissue and very weak antigenecity, made IPN the primary resource in both pharmaceutical and medical applications. IPN offers novel ways to formulator to formulate multiparticulate drug delivery system, tablets or transdermal delivery systems. IPN is highly effective for controlling the drug release of Biopharmaceutics Classification System (BCS) class I drugs.