Earthworms have been successfully used in the vermicomposting of different organic residues to produce vermicompost. Therefore, three different earthworm species Eisenia fetida, Eudrilus eugeniae, Perionyx excavates were utilized for the conversion of dewatered sludge (DS) of pulp and paper mill into stable compost. DS was mixed with saw dust (SD) in four different proportions such as (50:50, 60:40, 70:30 and 80:20). Stability analysis of compost was study by stability parameters i.e. C/N ratio, oxygen uptake rate, CO2 evolution and biodegradable organic matter. Compost stability studies revealed that the final compost became stable in all proportions with every earthworm species. However the substrate combination of DS and SD (70:30) proved to be the best mixture on an overall basis with earthworm species E. fetida.