Estimation of heritability and genetic advance plays a pivotal role in selection. An experiment was conducted at The University of Agriculture-Peshawar during 2013-14 by evaluating 19 genotypes including seven parents and 12 F2 populations using a randomized complete block design (RCBD) with three replications. Data were recorded on days to 50% heading, days to maturity, plant height, flag leaf area, productive tillers plant-1, spike length, biological yield plant-1, spikelet spike-1, grains spike-1, grain yield plant-1 and harvest index. Analysis of variance showed significant differences among genotypes, parents and F2 populations for all the studied traits while parent vs F2 population also showed significant differences, thus indicated the usefulness of selection of these studied traits. Low to high broad sense heritability was observed for all most all the traits studied. Low genetic advance was observed for all the traits studied. Among Parents, Janbaz was the highest in productive tillers plant-1, spikelet spike-1, grains spike-1 and grain yield plant-1. Among F2 population, Saleem-2000 × Barsat had the earliest 50% heading and maturity, Saleem-2000 × Watan, Tatara × Barsat, AUP-5008 × Fakhre Sarhad and Janbaz × Barsat showed the shortest plant, large flag leaf area, long spikes, more productive tillers plant-1, grain yield plant-1, harvest index, biological yield plant-1 and spikelet spike-1. Saleem-2000 × Watan, Tatara × Barsat, AUP-5008 × Fakhre Sarhad and Janbaz × Barsat having better performance for most of the traits and hence could be utilized in future wheat breeding programs.