Signcryption is a cryptographic primitive which performs encryption and signature in a single logical step. In conventional signcryption only receiver of the signcrypted text can verify the authenticity of the origin i.e. signature of the sender on the message after decrypting the cipher text. In public verifiable signcryption scheme anyone can verify the authenticity of the origin who can access the signcrypted text i.e. signature of the sender on the cipher text. Public verifiable signcryption scheme in which the receiver can convince a third party, by providing additional information other than his private key along with the signcryption is called third party verifiable signcryption schemes. In this paper we proposed an efficient identity based public verifiable signcryption scheme with third party verification and proved its security in the random oracle model.