Present invention discloses a novel, commercially viable process for extraction of Alpha yohimbine from the bark, stem and leaves of Rauwolfia species. The extract is obtained by a precipitation method involving alternate steps of acidification and alkalization along with use of specific organic solvents. The extract gives higher yield of 7-8 fold as compared to other processes and without use of any column chromatography at all. Yield of alpha yohimbine from roots and leaves of Rauwolfia canescens by process of present invention was 0.017% and 0.4% respectively, indicating that leaves are a much better source. The HPLC analysis of the compound obtained indicated a purity of > 90%.