Introduction: The vessels of lower limb are prone for thrombosis in conditions such as Diabetes mellitus and Thromboangiitis obliterans. Apart from that, the fasciocutaneous flaps commonly employed in reconstruction procedures are based on the vessels of lower limb. In the wake of such increased importance, the present study is aimed at studying the course, branching pattern and termination of peroneal artery along with nutrient artery to fibula which is useful during fibular bone grafting procedures. Materials and methods: The study was conducted in forty lower limb specimens from the Institute of Anatomy, Madras Medical College. The origin, course, branches of peroneal artery along with nutrient artery to tibia and fibula, perforating branches were observed in detail. Results: The average distance of the origin of the peroneal artery from the lower border of popliteus was found to be 5.7 cm. The distance of origin of peroneal artery from the origin of posterior tibial artery was found to be 3.4 cm. The perforators arising from the peroneal artery were located predominantly in the distal two-quarters of the leg. The nutrient artery to fibula arose from the peroneal artery in all the specimens. It was two in number in 5 specimens (12.5%). There were three branches in two specimens (5%). Conclusion: The knowledge of perforators is essential for raising skin flaps based on these branches. Since the flaps of these regions are considered to be reliable and easy to dissect, they are preferred even in primary centres also..