Summary: In this paper, we present an analytical solution of magnetohydrodynamic (MHD) flow and heat transfer over a permeable stretching sheet. The effect of thermal radiation is included in the energy equation and velocity slip, thermal slip are included in the boundary conditions. The governing boundary layer equations are transformed into nonlinear ordinary differential equations using similarity transformations available in the literature. These equations are then solved with an approximate analytical method known as optimal homotopy asymptotic method (OHAM) as well as Runge-Kutta-Fehlberg fourth-fifth order numerical method. The effects of the controlling parameters on the dimensionless velocity, temperature, friction factor and heat transfer rates are analyzed and discussed through graphs and tables. It is found that the OHAM results match well with numerical results obtained by using Runge-Kutta-Fehlberg fourth-fifth order method for different values of the parameters. Good agreement is found between the results reported in the literature and present results for some special cases of the present model.