Eight diverse genotypes of watermelon were crossed in half diallel fashion (without reciprocal crosses) to estimate the heterotic parameters and combining abilities. Heterosis estimation in the present study indicated the presence of high magnitude of heterobeltiosis and standard heterosis in hybrids for fruit yield and quality components, thus advocating the exploitation of heterosis in F1 hybrids at commercial level in watermelon. Highest desirable heterosis expression over better parent and standard hybrid was observed for fruit yield per plant. The hybrid Arka Manik x Durgapura Selection was noted to be the best performing hybrid. Two crosses, namely GP-7 X AH W-187-2 were the best crosses showing per se performance for resistance against anthracnose disease with desirable heterosis in yield traits. Asahi Yamato and Durgapur Selection were adjudged as the superior performers for fruit yield per plant based on general combining abilities. Arka Manik and GP-7 were found to be anthracnose resistant sources which could be used in future for anthracnose resistance breeding. The hybrid GP-7x RW-117-3 was found to be superior when SCA effects were considered for many of the yield traits.