A basic function of Grid Scheduler is to decide which jobs to run on what computational resources based on the user's application requirements. Since dynamic configuration of the execution environment is not supported by the grid middleware. By incorporating the virtualization technology in the existing grid infrastructure, the grid has been made configurable by creating the virtual resources based on the application requirements of the user. To create the virtual resource, it is essential to identify the suitable physical resource in which the virtual resource is created. In this paper we devise an intelligent semantic discovery mechanism to identify the suitable physical resources for the creation of virtual resources. In our proposed work physical as well as virtual information has been semantically represented using ontology knowledge base. The proposed intelligent discovery mechanism helps the Care Resource Broker [1] for making intelligent scheduling decisions in the submission of jobs to physical as well virtual resources based on the application requirements followed by the job submission. The improved performance by means of higher throughput is the result of the proposed work. © 2011 IEEE.