Changes in maternal lipids and alkaline phosphatase (ALP) activity occur during normal pregnancy. There is scarce data in regards to atherogenic indices and relationship of lipids with ALP during pregnancy. The study therefore aimed at determining serum lipid levels, atherogenic indices, and ALP activity as well as their relationship in normal pregnancies. The case-control study compared the parameters of second (n=37) and third (n=40) trimester pregnancies with normal pregnant controls (n=40) aged 18-35 years. Results showed a significant (P<0.0005) rise in the levels of total cholesterol (TC), low density lipoprotein cholesterol (LDL-C), very low density lipoprotein cholesterol (VLDL-C), triglycerides (TGs), non-high density lipoprotein cholesterol (nHDL-C) and ALP in the pregnant women compared to anthropometrically matched non-pregnant women. A significant (P<0.02) rise in Castelli’s risk index (CRI-1), atherogenic coefficient (AC), TG/HDL-C, atherogenic index of plasma (AIP) was observed in the pregnant women compared to the matched controls. Pearson correlation showed a positive correlation of gestation age with ALP (r=0.365), TC (r=0.450), HDL-C (r=0.311), VLDL-C (r=0.338), TGs (r=0.338), and nHDL-C (r=0.291). A positive correlation of ALP was observed with TC (r=0.689), LDL-C (r=0.608), VLDL-C (r=0.231), TGs (r=0.231), and nHDL-C (r=0.647). The atherogenic indices neither correlated with gestation age nor ALP. The present study shows that serum lipids increase in association with ALP during normal pregnancy. We recommend further studies in women with complicated pregnancies to gain insights into the patho-physiology of the association