The current study reports on in vitro propagation and conservation of critically endangered medicinal plant Swertia chirayita. The sterilized explants (leaves) were cultured on Murashige and Skoog’s (MS) medium supplemented with 0.1 mg/L naphthalene acetic acid (NAA) and 3.0 mg/L benzyl adenine (BA) for callus induction, the same medium was used for shoot regeneration and for direct shoot regeneration from in vitro leaves. For in vitro multiplication shoots were cultured on MS medium supplemented with 2.5 mg/L benzyl adenine and 0.1 mg/L Kinetin (Kn). MS half strength medium supplemented with 400 mg/L activated charcoal and 0.1 mg/L naphthalene acetic acid showed 80.30% root induction from in vitro grown shoots. The in vitro raised plantlets were successfully acclimatized. All the regenerated plantlets appeared normal with 70–80% survival rate, while In vitro conservation was carried out by using two different approaches namely slow growth by changing media composition (sucrose and abscisic acid) at low temperature and cryopreservation following vitrification. With increase in concentration of sucrose and ABA decrease in growth of in vitro shoots was observed. At low temperature the in vitro shoots incubated at 4 and 10 °C both showed 100% retrieval. During studies the vitrified shoot gave retrieval of 42.33% when pre-cooled at 4 °C while only 22.77% vitrified shoots were retrieved from those pre-cooled at 10 °C.