The main aim of the project is to analyze various stresses and fatigue parameters acting on connecting rod, Optimize shape and weight. Connecting rod is an intermediate & important engine component which connects piston & crankshaft. It is subjected to multiple compressive & tensile forces. Major consideration in this case is gas force. The high magnitude gas force is responsible for many kinds of failure. These failures need to be prevented & for this purpose analysis was needed to be done. In this project, connecting rod of Tractor is chosen as a model for study. This project considers two cases, first, static load stress analysis of the connecting rod, and second, optimization for weight. In this project analysis is done on four stroke single cylinder petrol engine connecting rod. The model was developed in PRO-E software, saved in IGES format and then imported to ANSYS workbench. Using ANSYS workbench 14 model was analyzed for various stresses by applying suitable boundary conditions & using different modules of ANSYS workbench 14. The Von Misses stresses, shear stresses, elastic strain, total deformation and various fatigue parameters like life, damage, safety factor etc. are analyzed. Here two materials were studied for their performance, viz., Structural Steel & Aluminum (LM6) Alloy. Shape and weight optimization was done for both the materials. Aluminum being light in weight and having more yield strength became the suitable material. The results obtained from the stress analysis were used to modify the design of existing connecting rod, so that better performance i.e. reduced inertia, fatigue life and manufacturability can be obtained under varying load conditions.