The present study was aimed to assess the memory impairment activity of Carbamazepine (CBZ) in presence and absence of Nardostachys jatamansi. Memory impairments are common side effects in epileptic patients and antiepileptic drugs can worsen memory impairment. Nootropic drugs may be of potential in reducing the memory impairment when given along with antiepileptic drugs. Therefore ethanolic extract of Nardostachys jatamansi (ENJ) was prepared and standardized by preliminary phytochemical tests, determination and total phenolic and flavonoid content and in-vitro antioxidant activities like DPPH, Super oxide (SO), Hydroxyl (OH), Nitric oxide (NO) and Hydrogen peroxide (H2O2) scavenging activity. CBZ was administered orally for 29 days in rats to assess the memory impairment ability by employing Barne’s maze on PTZ induced convulsions. ENJ exhibited potent free radical scavenging activity when evaluated by in-vitro methods. CBZ increased Escape Latency Time (ELT), number of errors and decreased Time spent in Target Quadrant (TSTQ) when compared to vehicle treated group in rat indicating memory impairment due to its chronic administration. When EN] was given along with CBZ significant decrease in memory impairment induced by CBZ was observed. The anticonvulsant activity of CBZ was found to be potentiated due to the coadministration of ENJ when compared to vehicle and CBZ alone treated animals. The AChE levels in CBZ were found to increase when compared to vehicle, where as co-administration of ENJ produced a decrease in AChE levels when compared to vehicle and CBZ treated group. The combination of reduced dose of CBZ with ENJ was also shown decrease in memory impairment without altering its anticonvulsant activity. Findings of the present study supplements the above fact, however further research is required.