The famous masnavi “Khawb-o-Khyal” was written by Syed Mir Asar in c. It was edited by Moulvi Abdul Haq and was published for the first time in 1926 by Anjuman Taraqi-e-Urdu Aurangabad. Later on Moulvi Abdul Haq also edited Mir Asar’s Deewan and published the same in 1930. In this article a comparative study has been carried out regarding the differences found in Mir Asar’s Deewan and Masnavi Khawb-o-Khayal.