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Nepal possesses a wide diversity of rice landraces in all rice-growing areas from low to high altitudes. Characterization, evaluation, and diversity studies are essential to provide information for plant breeding programs. An experiment was conducted in 49 landraces of rice by alpha-lattice design with three replications, seven blocks per replication, and seven plots per block in a field experiment at Agriculture and Forestry University (AFU), Rampur, Chitwan, Nepal. Of the 31 qualitative characters evaluated, polymorphism was detected in 30, whereas all the studied 18 quantitative traits showed highly significant differences. The maximum grain yield was recorded by Jagaha (4964.11kg/ha). Most of the traits showed high heritability (>60%), along with high GAM ensuring the dominance of the genetic components in the variations seen between landraces. The higher PCV compared to GCV indicates that there is an influence of environment in every character we studied. This study concludes that there was a lot of variation among rice accessions, which is crucial for breeding programs or genetic research. The findings of this study are useful for using the genotypes under examination in the next breeding programs.