In this paper dynamic routing and wavelength assignment strategies have been proposed for multiclass WDM optical networks. Multiclass optical networks provide multiple classes of services to the subscriber according to the requirement, which in turn increase operational profitability. Each class of service could be characterized by parameters like number of wavelengths, expected call holding time and average arrival rate of request. The proposed strategies have been analyzed and compared with existing strategies on the basis of blocking probabilities for multiclass traffic scenarios. Simulation results on different network topologies demonstrate that the performance of proposed strategies “Fixed shortest/alternate shortest path routing with wavelength reservation (FSASWR)” and “Fixed alternate shortest path routing with least priority wavelength assignment (FASPL)” are much better as compared to existing strategies. Proposed strategies minimize blocking probability of the multiclass network using limited number of wavelengths.