Entrepreneurship is of dominant partner in supporting economic development of any countries. In case of developing countries, entrepreneurship plays vital role in creating jobs by the way boosting the economic development. Government and non government supports for entrepreneurship education and establishment through microfinance were culminated in success. In Sri Lanka, universities are the higher educational institution running well organized entrepreneurial qualifications. Nonetheless, undergraduates’ perception towards entrepreneurship is of conundrum and intriguing. This scholarship is thus investigating the relationship between psychological characteristics and entrepreneurial inclination among undergraduates. Data for this study were collected through structured questionnaire within the cross sectional research design and the subjects were made up of 100 students where convenient sampling techniques was adopted.