Caladium bicolor cv. Bleeding Heart is a popular ornamental herb belonging to the family Araceae. These plants are commercially grown for their beautiful foliage ornamentation. However, induction of new extra traits involving conventional breeding techniques have always been difficult in most vegetatively propagated plants. Here we report a tissue culture system that produced true to type plantlets and as well as plants with altered morphological traits. Callus was initiated from rhizome on MS medium added with 2,4-D (2.0 mg l^-1). A large number of plantlets were regenerated when medium was amended with BAP (0.5- 1.0 mg l^-1) alone or with NAA (1.0 mg l^-1). Plants were also developed from leaf petioles via embryogenic pathway. Agitated liquid media improved the growth of regenerated shoots. The shoots were rooted in NAA or IBA (4.0 mg l^-1) before transplantation. The tissue culture raised plants were transferred to outdoor conditions and were phenotypically screened. Most of the plants were normal and had usual growth but low frequencies of regenerants were off-type morphological variants. The cytological status of the regenerants has also been discussed.