Seven cotton genotypes involving cvs. Giza 70, Giza, 77, Giza 86 and Giza 83 and the exotic varieties; Pima S7 and SeaIsland, as well as, the American Upland variety Tamcot C.E., were crossed in a diallel pattern, excluding reciprocals, in 2000 season to produce 21 F1 hybrids. Parents and F1­­'swere evaluated in 2001 season for eight economic traits. Mean squares due to genotypes were highly significant for all traits, revealing the presence of sufficient variability in the population. Significant desired negative mid and better parent heterosis were found for fiber-to-seed attachment force and days to flowering. Significant positive heterosis was also observed for yield and its components. The variances due to general combining ability (GCA) and specific combining ability, (SCA) were significant for all studied traits, indicating the importance of both additive and non additive gene action in the inheritance of these characters. The GCA/SCA ratio was found to be greater than unity, indicating predominance of additive and additive x additive types of gene action in the inheritance of these traits. Based on GCA effects, the Upland variety Tamcot C.E. proved to be the best general combiner for earliness, boll weight, seed index, seed cotton yield and lint cotton yield/ plant. Giza 83 seemed to be good combiner for fiber-to-seed attachment force, Giza 86 for lint percentage and Pima S7 for number of bolls per plant.