A warm water crude extract of coconut milk and a coconut water dispersion were investigated for their antiulcerogenic effects in male Wistar albino rats. Ulcers were induced in the male rats by subcutaneous administration of indomethacin (40 mg/kg) using standard procedures. The ulcer inhibition rate (UIR) was taken as a measure of the cytoprotection offered by test substances. Coconut milk (2 mL daily oral feeding) produced a stronger percentage (54%) reduction in the mean ulcer area than coconut water (39%). The effect of coconut milk was similar to the effect of sucralfate that reduced the mean ulcer area by 56% in this study. Sucralfate is a conventional cytoprotective agent. The results showed that coconut milk and water via macroscopic observation had protective effects on the ulcerated gastric mucosa. It is concluded that coconut milk offered stronger protection on indomethacin-induced ulceration than coconut water in rats.