This study was conducted to compare the poverty level of rain fed farmers and dry season farmers, its incidence, depth and severity among the two groups and indicators of poverty in Oyo State. The study areas are Ibadan Ibarapa North and Oyo Zone of the State ADP. The study used primary data and a total of 100 questionnaires were administered using two stage stratified random sampling technique for rain fed farmers and dry season farmers. Information collected from the farmers covers the objectives of the study. The data were analyzed using descriptive statistics and P? test. The major indicators of poverty in the study area are access to basic farm input, market and transportation problems, erratic power supply, lack of access to safe water and poor medical facilities.