This study investigated the hypoglycemic, hematologic and hypolipidemic potentials of Jatropha tanjorensis ethanol leaf extract (JELE) in alloxan induced diabetic rats using experimental animal model. Group1 comprising of 7 normal rats received 0.2ml normal saline and severed as the normal control group. Alloxan induced diabetic rats were divided into 4 groups of 7 animals each (groups 2-5). Group 2 received no treatment and served as the diabetic control. Group 3 was treated with a reference drug, Glibenclamide (5mg/kg) while groups 4 and 5 received 150 and 300mg/kg of JELE respectively. All treatments were done via the oral route and lasted for 21 days. Results obtained indicate that all doses of JELE significantly (P<0.05) lowered glucose levels in the diabetic rats with 300mg/kg lowering blood glucose from 311.80 ± 37.10 in diabetic rats to 95.95 ± 2.90 by the end of 21 days. The hypoglycemic effect of JELE compared favorably with that of Glibenclamide. Red blood cells (RBC) counts, packed cell volume (PCV), hemoglobin values were all significantly raised (P < .05) in treated rats, while the increased WBC value in diabetic rats was lowered. The levels of total cholesterol, triglycerides, low density lipoprotein cholesterol (LDL-C) and very low density lipoprotein cholesterol (VLDL-C) were significantly (P<0.05) decreased in the diabetic treated rats with increase in the levels of high density lipoprotein cholesterol (HDL-C). These results suggest that JELE contains active principles with hypoglycemic, hematologic and hypolipidemic properties and could be of value in the management of diabetic mellitus and associated anemia and lipid abnormalities.