The present study has been undertaken to observe the effect of aqueous extract of M. oleifera (MO) leaf (300mg/kg body weight) on mean ulcer index, enterochromaffin (EC) cells and serotonin (5-hydroxytryptamine; 5-HT) content of ulcerated gastric tissue. Ulceration was induced by using aspirin (500 mg/kg, po), cerebellar nodular lesion and applying cold stress. In all cases increased mean ulcer index in gastric tissue along with decreased EC cell count was observed with concomitant decrease of 5-HT content. Pretreatment with MO for 14 days decreased mean ulcer index, increased both EC cell count and 5-HT content in all ulcerated group, but treatment with ondansetron, a 5-HT3 receptor antagonist, along with MO pretreatment increased mean ulcer index, decreased 5-HT content without any alteration in EC cell count. The results suggest that the protective effect of MO on ulceration is mediated by increased EC cell count and 5-HT levels which may act via 5-HT3 receptors on gastric tissue.