Matrix is one of the most interesting drug delivery systems to control drug release in pharmaceutical dosage forms. Natural rubber latex (NRL) from Hevea brasiliensis consists of cis-1,4-polyisoprene as the major polymer. It presents interesting physical properties such as easy to manipulate, low cost, high mechanical resistance, and insoluble in water. The aim of this study was to use the NRL as binder in matrix tablets for controlling the release rate of drug. NRL, sodium carboxymethylcellulose, olive oil, Tween 80, and lactose were used as polymer, adsorbent, plasticizer, surfactant, and diluent, respectively. Propranolol hydrochloride was used as a model drug. Propranolol hydrochloride matrix tablets were prepared by conventional heat-melting method. The in vitro release of drug from matrix tablets was determined by UV-Vis method according to dissolution test under Propranolol Hydrochloride Tablets USP30-NF25 monograph. Morphology of propranolol hydrochloride matrix tablet before and after released study was observed by scanning electron microscopy (SEM). It was found that NRL matrix tablets could control the drug release up to 12 hours. The release profiles were best fitted with Higuchi model. NRL amounts affected the properties of the propranolol hydrochloride matrix tablets. Increasing the NRL quantity in the matrices provided the decrease of release rate of drug. SEM photographs showed the number, size, and distribution of pore in propranolol hydrochloride matrix tablets that depended on amount of NRL addition. These results confirmed that NRL was possible to use as binder for matrix tablets in oral drug delivery systems.