The story of Puran Bhagat is one of the ancient Punjabi folk tales of the 10th and 11th centuries AD. Due to the background of this story from Hindu religion, many non-Muslim poets composed it, but the popularity that came to the Muslim Punjabi poet Qadir Yar could not be shared by anyone else. A part from other features of the story composed by Qadir Yar, the characterization was perfect. This was the reason why Qadir Yar's story of Puran Bhagat was more popular than that of other poets. Puran Bhagat was the very handsome son of a Raja Salban or Salbahan of Sialkot. Puran's era is from 970 to 1070. Puran's mother's name was Mai Ichran. The prince was raised in a special environment that lit the candle of spirituality within him. Puran's stepmother was Rani Luna. She conspired to distance Puran from the king. But she herself remained childless and finally became a mother with the prayers of Puran. Qadir Yar has painted all the characters of the story according to their nature and psychology. In this research article, the researcher has conducted a research-critical analysis of all the characters of the story.