The present work is concerned with designing new phenazinamine derivatives using computer aided drug design and to perform insilico screening of designed phenazinamine derivatives. These compounds were designed on the basis of literature information, essential for anticancer activity through PASS, toxicity risk assessment, GQSAR and molecular docking studies. Compounds which were optimized and shortlisted by molecular modeling studies viz., new phenazinamine derivatives; were synthesized, structurally elucidated by spectroscopic studies and screened for invitro anticancer activity. It was found that these derivatives in suitable concentrations exhibited anticancer activity comparable to standard Imatinib. In molecular docking studies, the interaction of 2-phenazinamine derivatives with Bcr-Abl tyrosine kinase enzyme was studied. The most active compounds of dataset were found to possess good dock scores and binding affinity towards this enzyme. It was observed that insilico and invitro anticancer activity results of these 2-phenazinamine derivatives correlate well with results obtained from docking.