Background: Irritable Bowel Syndrome (IBS) is a prevalent functional disorder characterized by gastrointestinal symptoms and extra-digestive manifestations without clear organic etiology. Psychiatric comorbidities, including mood and anxiety disorders, are common among individuals with IBS, impacting healthcare-seeking behavior. Objective: This study aims to assess psychiatric morbidity in individuals with IBS. Methodology: A prospective observational clinical study was conducted at the Department of Gastroenterology, tertiary hospital, from June 2021 to June 2022. Convenient sampling was used to select 100 diagnosed cases of IBS aged 18 and above. A semi-structured questionnaire was developed to collect socio-demographic data, and psychiatric morbidity was assessed using the Structured Clinical Interview for DSM-V Axis-I disorders (Clinician Version). Data were analyzed using SPSS version 20. Results: Among the participants, 60% were male and 40% were female. Most participants (80%) exhibited psychiatric disorders, with depressive disorder being the most prevalent (30%), followed by anxiety disorder (29%) and somatoform disorder (10%). Non-psychiatric disorders were diagnosed in 31% of participants. Conclusion: Depressive disorder emerged as the predominant psychiatric illness in individuals with IBS, followed by anxiety disorder and somatoform disorder. A comprehensive psychiatric evaluation is essential for effectively managing the symptoms of IBS, particularly in individuals with psychiatric comorbidities.