Twenty eight mungbean hybrids derived from 8 x 8 diallel excluding reciprocal crosses were studied to know the magnitude of heterobetiosis, standard heterosis and inbreeding depression for yield and its component characters in mungbean. The magnitude of heterobeltiosis and standard heterosis was high for seed yield, number of pods per plant, number of clusters per plant and number of primary branches per plant. The crosses Vaibhav x Asha for heterobeltiosis and K 851 x OUM 11-5 for standard heterosis showed significant and the highest value for seed yield and its important component traits. Only one heterotic cross i.e. K 851 x Pant-M 4 for seed yield did not show inbreeding depression for same trait. Further this cross did not show inbreeding depression for most of the characters.