A simple, sensitive and cost effective visible spectrophotometric method has been developed for the determination of raloxifene hydrochloride from bulk and tablet dosage forms. The method is based on the formation of green colored coordination complex by the drug with cobalt thiocyanate which is quantitatively extractable into nitro benzene with an absorption maximum of 624.4 nm.The Regression analysis of Beer’s Law plot showed good correlation in a general concentration range of 16-48μg/ml with correlation coefficient (r= 0.999). The proposed method is validated with respect to accuracy, precision, linearity and limit of detection. The suggested procedure is successfully applied to the determination of the drug in pharmaceutical preparation, with high percentage of recovery, good accuracy and precision. The results of analysis have been validated statistically by repeatability and recovery studies. The results are found satisfactory and reproducible. The method is applied successfully for the estimation raloxifene in tablet form without the interference of excipients.