Basic fibroblast growth factor (bFGF) have been discovered to induce strong angiogenic activity and proliferative capacity in undifferentiated mesenchymal cells. The purpose of this study was to evaluate the regenerative effect of bFGF with and without synthetic alloplastic bone graft (bioactive glass) in periodontal infrabony defects. Methods and Material: Following initial periodontal therapy, 16 systemically healthy patients in the age group 20-65 yrs., having bilateral intrabony defects, were randomly assigned to two treatment groups using a split mouth design i.e. Group A treated with bFGF and bone graft and Group B treated with bFGF with absorbable collagen sponge (ACS). All the clinical parameters and radiographic measurements were performed at baseline and at different time intervals following surgical therapy. Results: In both thegroups, all clinical and radiographic parameters statistically improved from baseline. There were statistically insignificant differences in the values of plaque and gingival indices of both groups, but reduction in probing pocket depth and attachment gain were statistically significantly higher in group A than in group B at 24th week from baseline. Gain in height of alveolar bone was statistically significantly higher in group A than in group B at all the time intervals Conclusions: Although, both interventions resulted in greater clinical and radiographic improvement at various follow up visits., but impregnation of bFGF onto a bioactive glass improved the efficacy of FGF-2, this combination has potential for clinical applications.