The spectral and voltammetirc behavior of Alprazolam(ALP) in aqueous buffers of varied pH is presented. Spectrophotometry and cyclic voltammetry were utilized to study its proton and electron transfer characteristics respectively. Relevant thermodynamic and electrochemical data such as deprotonation constant (pKa), charge transfer co-efficient (αna), forward rate constant (k0 f,h), etc, have been evaluated. An excellent electroanalytical assaying of ALP has been developed in differential pulse polarography at pH = 8. Molecular modeling on various acid-base conjugates of 1H2 and their several conformers has been carried out to arrive at the thermodynamic and conformational issues to correlate to the spectral and electrochemical observations.