Wireless Sensor Networks (WSN) comprises a collection of nodes commonly employed to observe the physical environment. Different sensor nodes are linked to an inbuilt power unit to carry out necessary operations and data transmission between nearby nodes. The maximization of network lifetime and minimization of energy dissipation are considered as the major design issue of WSN. Clustering is a familiar energy efficient technique and the choice of optimal cluster heads (CHs) is considered as an NP hard problem. This paper presents an Inertia Particle Swarm Optimization algorithm with dynamic velocities (IPSO-DV) algorithm based clustering technique in WSN. The aim of the IPSO-DV technique is to select the CHs in such a way to maximize network lifetime. The IPSO-DV algorithm derives a fitness function (FF) to select CHs using distance to BS and remaining energy level. The application of dynamic velocities helps to improvise the effectiveness of the conventional PSO algorithm. To assure the performance of the presented IPSO-DV algorithm, a series of experiments were carried out and the results are investigated under several aspects. The experimentation outcome ensured the effective performance of the IPSO-DV algorithm over the compared clustering techniques.