Sweetpotato (Ipomoea batatas L. (Lam)) is a nutritious food security crop for most tropical households, but its utilisation is very low in Ghana compared to the other root and tuber crops due to lack of end-user-preferred cultivars. Knowledge on the genetic control of important traits such as dry matter, starch and sugar content of sweetpotato storage roots in a breeding population is critical for making breeding progress in developing sweetpotato varieties preferred by farmers and consumers. This study used diallel mating design to elucidate general combining ability and specific combining ability, to determine the gene action controlling storage root dry matter, starch and sugar content in sweetpotato and the heterotic potential of the traits to facilitate the crop’s improvement for increased utilisation. A general model for estimating genetic effects, GEAN II, was used to analyse the data. Genetic variability was seen for dry matter, starch and sugar content of sweetpotato and much of this genetic variation was additive in nature. The study also revealed significant heterosis in sweetpotato which offers opportunity for breeding non-sweet, high dry matter sweetpotato varieties that are preferred by farmers and consumers in Ghana.