So far, substantial attentions have been attracted to the application of mesenchymal stem or stromal cells (MSCs) in different therapeutic approaches. Although human bone marrow is commonly considered as a major source for MSCs, having an invasive collection method, ethical consideration and donor availability create a challenge for scientists, leading them to explore better alternative sources for MSCs. The study presented here aimed to characterize and compare osteogenic capacity of MSCs obtained from the amnion membrane (AM) with those originated from BM. Cells isolated from AMs and BMs were cultured in DMEM-low glucose supplemented with FBS, penicillin and streptomycin. After 24 h of incubation, cells adhered to the plastic surface of the flasks were allowed to proliferate for more days. A sub-confluent culture of cells was trypsinized and re-cultured. The MSCs were characterized by the expression of specific markers with flow cytometry. The osteogenic differentiation of MSCs was also validated by alkaline phosphatase and alizarian red S staining. Our results showed comparable expression of MSCs specific markers for both MSC sources (AM and BM). We also showed the optimum osteogenic differentiation of MSCs from both sources whereas hAM-MSCs revealed higher proliferation rate. We found no essential immunophenotypic differences between MSCs originated from bone marrow and amnion membrane while their differentiations into osteoblastic linage were also comparable. This was in addition to the higher proliferation rate observed for hAM-MSCs which suggests hAM as an easily accessible and reliable source of MSCs applicable for bone engineering, regenerative medicine or other therapeutic approaches.