Abstract: This study examines the impact of corporate governance on financial performance of Nepalese commercial banks. The return on assets (ROA) and return on equity (ROE) are the dependent variables. Women on board of director (WD), audit committee size (AS), firm size (FS), board size (BS), board independence (BI), foreign ownership (FO) and credit deposit ratio (CD) are the independent variables. The data are collected from the annual reports of selected commercial banks. Total of 23 commercial banks of Nepal are included in this study from 2012/13 to 2016/17 leading to a total of 115 observations. The regression and correlation models were estimated to test the significance and importance of corporate governance and performance of Nepalese commercial banks.