Introduction: Pes anserine bursitis (PAB) is a common cause of knee pain, often overlooked in favor of knee osteoarthritis diagnoses. Aim of the study: The aim of this study was to compare the efficacy of physical therapy and corticosteroid injection in patients with anserine bursitis. Methods: This prospective randomize study was conducted in the Department of Physical Medicine & Rehabilitation at Bangabandhu Sheikh Mujib Medical University, Dhaka, Bangladesh, from July 2014 to June 2015. The patients were divided into two groups (A and B). Patients of Group A (25 patients) were treated with physical therapy. Patients of group B (25 patients) were treated with corticosteroid injection. Data, collected through a questionnaire, interviews, and medical records, were analyzed using SPSS version 26. Result: The mean age of patients was 42.25 ± 3.24 years, with Group A comprising 88% males and 12% females, while Group B had 80% males and 20% females. Mean BMI was 24.4 ± 6.3 in Group A and 25.9 ± 5.0 in Group B. Post-treatment, Group B showed significant immediate improvements in pain relief (WOMAC stiffness subscale, p = 0.0398), tenderness index (p = 0.0071), and pain scores (VAS, p = 0.0001). Although both groups improved in function and total WOMAC scores, these changes were not statistically significant. Conclusion: This study highlights that both physical therapy and corticosteroid injections are effective treatment options for patients with pes anserine bursitis. Corticosteroid injections offer rapid relief of symptoms, making them beneficial for acute cases, while physical therapy provides better long-term treatment for improvement.