Grasscutters (Thryonomys swinderianus) are domesticated for meat, income generation, and other conservational purposes. This study focused on the socio economic characteristics of grasscutters raised in captivity and the profitability of its farming in Osun and Oyo state. Data were collected through direct observation of the farms and the use of structured questionnaire. Three (3) grass cutter farms each were randomly selected in Osun and Oyo state. Data was analyzed using multiple regression analysis. The results shows that majority (74.7%) of the respondents were male and married (66.7%). Ages 31-40 were more involved in the business and religion is not a barrier in raising the animal. Grass cutter farming proved to be a profitable business venture in both states; Oyo state NFI (NET FARM INCOME) = TR-TC which is 10,291,400 - 2,948,600 = 7,342,800, While in Osun state NFI=TR-TC = 23,205,500-3,264,500. However, low level of veterinary care, high rate of disease infection and marketing of the animals are the major constraint affecting grass cutter business in the study area. The study therefore concluded that grass cutter rearing is a profitable business and recommends that researchers should work more on the diseases affecting the grass cutter and the government should create training programmes for interested grass cutter farmers.