The static effective potential for a scalar field with Phi(6) interaction is calculated using the effective action in Schrodinger picture formalism. It is found that the effective potential obtained is same as the Gaussian effective potential as far as static case is concerned. Equivalence with the CJT formalism can also be established. As in CJT formalism after renormalization an unrenormalized mass term persists. Nonzero turning points are obtained both for positive and negative lambda. Results are analysed numerically. Graphical analysis indicates a behaviour similar to that obtained for CJT formalism at zero temperature.