The current study was undertaken with the aim to characterize the macroscopic morphological and morphometrical features of cyclic corpus luteum (CL; n=40) and CL of pregnancy (n=10) in buffalo. The four stages of cyclic CL were interpreted after ovarian analysis i.e., c olor, consistency, vasculature of CL, number and size of follicles into early (Stage I, 1 to 5 days, n=10), mid (Stage II, 6 to 11 days, n=10), late luteal phase (Stage III, 12 to 16 days, n=10) and follicular phase (Stage IV, 17 to 20 days, n=10). In Stage I, it was slightly protruded from the surface of ovary, bloody in appearance due to increased blood congestion, soft in consistency and termed as corpus haemorrhagicum. In Stage II, initially CL was bright red in color, later fleshy in color and soft in consistency. In Stage III, it was shrunken to great extent and pale yellow to creamish in color due to reduced vascularity. At Stage IV it was shrunken and rigid; texture became firmer, completely condensed into small whitish in color due to complete loss of vascularity. It varied in size and weight as well during the varying stages of estrus cycle depicting changes in its morphology. Therefore, by recording the macroscopic observations on cyclic CL and CL of pregnancy, it was further characterized into different stages.