Adverse Drug Reactions (ADRs) have medical as well as economic consequences, leading to increased patient morbidity and mortality. Under reporting of ADRs is a huge health problem globally. Malaysia like many other countries worldwide uses spontaneous reporting systems as a means of collecting data on suspected adverse drug reactions. However, compared to other countries, which use the system, the reporting rate in Malaysia is very low. The aim of this study is to evaluate the knowledge and perception of pharmacy students at Management and Science University, Selangor, Malaysia in pharmacovigilance system and ADR reporting. This was a descriptive cross-sectional study. Pharmacy students have high understanding and are knowledgeable about the ADR reporting process and the current pharmacovigilance system. However, skill on reporting ADR is poor among pharmacy students and promoting on ADR reporting is also poor in Malaysia. Pharmacy curriculum should include skill related topics related to the methods of detecting, preventing, and reporting ADRs. Competency in the skill of ADRs reporting may be assessed by using of an Objective Structured Clinical Examination (OSCE). Policy makers and responsible government bodies should take initiatives to promote ADR reporting among health professionals, including pharmacists, in order to improve the reporting system. Interactive interventional programs could be conducted among pharmacists to improve and promote spontaneous reporting of ADRs both in the hospital and community pharmacy practice settings.