ESSnuSB project is a design study for an upcoming accelerator-based neutrino oscillation experiment which will be driven by the ESS proton accelerator. The primary goal of this experiment is to measure the leptonic CP-violation phase with high precision at the second oscillation maximum. In this presentation, I will discuss the physics sensitivities of the proposed ESSnuSB experiment. In particular, I will discuss its capability to measure the leptonic CP phase, neutrino mass hierarchy, octant of the atmospheric mixing angle and the precision of atmospheric mixing angle and atmospheric mass squared difference. Further, I will discuss how the matter density can affect the CP measurement capability of ESSnuSB. In addition, I will also discuss the capability of this experiment to probe two of the new physics scenarios which are (i) light sterile neutrinos and (ii) invisible neutrino decay.