One of the most important objectives of wheat breeding is tolerance to waterlogging stress in high rainfall during critical stages and poorly drained areas. This study was conducted to estimate heritability parameters of characters associated with waterlogging tolerance by 5 x 5 complete diallel analysis in wheat (Triticum aestivum L.). The genetic material was evaluated for SPAD, CCI, MTS, Fe root and shoot contents, Mn root and shoot contents under waterlogging during Zadox Growing Stage 12 and 31 for 10 days and untreated conditions. The differences among genotypes for most of the studied characters were found to be significant under both treatments. The heritability of observed characters was controlled by both additive and dominance genes under two treatments. Also, significant reciprocals differences depend on items (c) and (d) showed the presence of maternal effects for observed characters. Consequently, the determination of maternal parents was very important for waterlogging tolerance. Moderately broad sense heritability (h 2 b) and low magnitude narrow-sense heritability (h 2 n) values indicated that non-additive gene effects were more considerable on the inheritance of studied characters. Therefore, the selection in later generations was recommended for waterlogging tolerant in the wheat breeding program.