A simple, specific, accurate and precise spectrophotometric stability indicating method is developed for determination of itraconazole in the presence of its oxidative degradation product and in pharmaceutical formulations. A newly developed spectrophotometric method called ratio difference method by measuring the difference in amplitudes between 230 and 265 nm of ratio spectra. The calibration curve is linear over the concentration range of 5～25 μg·mL-1 with mean percentage recovery of 99.81±1.002. Selective quantification of itraconazole, singly in bulk form, pharmaceutical formulations and in the presence of its oxidative degradation product is demonstrated. The results have been statistically compared with a pharmacopeial method.