The conflict between India and Pakistan over Kashmir which is considered as the major obstacle in promoting regional integration as well as in bringing peace in South Asia is one of the most intractable and long-standing conflicts in the world. The conflict originated in 1947 along with the emergence of India and Pakistan as two separate independent states based on the ‘Two-Nations’ theory. Scholarly literature has found out many factors that have contributed to cause and escalate the conflict and also to make protracted in nature. Five armed conflicts have taken place over the Kashmir. The implications of this protracted conflict are very far-reaching. Thousands of peoples have become uprooted; more than 60,000 people have died; thousands of women have lost their beloved husbands; nuclear arms race has geared up; insecurity has increased; in spite of huge destruction and war like situation the possibility of negotiation and compromise is still absence . This paper is an attempt to analyze the causes and consequences of Kashmir conflict as well as its security implications in South Asia.