An investigation on the average number v of prompt neutrons emitted per thermal neutron induced fission of U235 has been made with the Fermi gas statistical model. Weizsacker-Fermi semi-empirical mass equation has been used in calculating the neutron binding energies of the fission fragments. Using Stern's value for the mass of U235, the total excitation energy Ee of the fission fragments has been estimated to be of the order of 10 to 20 Mev for different hypotheses regarding the primary fission products. The results of calculation (given in the third table) show that only the hypothesis of equal radioactive chain lengths together with the assumption (A) that the excitation energy Ee is shared by the two fragments in proportion to their masses yields values of v exceeding 2. The latter assumption is not in accord with the experimental finding of Fraser that the light fragment group emits on the average 30% more neutrons than does the heavy. However, a shift of mass of U235 towards larger values or of kinetic energy of fission fragments towards lower values so that 5 Mev more excitation energy is available would make v considerably larger than 2 even with the assumption (B) that the excitation energy is shared by the two fragments in inverse proportion to their masses, thus making possible conformity with Fraser's discovery. Even then, in no case has the value of v thus calculated exceeded 3 (as shown in the fourth table), which may then be taken as a theoretical upper bound for the value of ν for thermal neutron induced fission of U235. The results of this investigation are thus seen to be in harmony with the recently announced experimental value 2.5 ±0.1 for ν.