nozturk, The two are roughly the same, but not exactly the same in meaning. 1) I've got this situation in hand. = I've got this situation under my control. 2)I've got this handled. = I am controlling the situation or having someone else control the situation. 2) is the "get" passive. "To get" also can function in your sentence as a causative verb. I've got this handled. = The situation has been handled. (by me or by someone as my agent) Mighty Mouse ( a famous American cartoon character) used to sing the following song: Here I come to save the day! That means that Mighty Mouse is on the way! On the sea or on the land, He's got the situation well in hand!

While both sentences are grammatically correct no one uses the second one to convey that meaning. The first is very commonly used.

I agree with Wild. You can also say, "I 've got a handle on this one" meaning that you are able to deal with the situation.

You wrote: sentence one: "I've got this handled" and Sentence two: "I've got this situation in hand" Whilst the second sentence is correct, the first sentence is incorrect. You can say one of the two below and they have the same meaning. (A) I've got this (situation) under control. (the use of the word 'situation' is optional as 'this' can be used on its own as a demonstrative reference for 'the situation') (B) I've got this situation in hand. In the above examples (A) and (B) have to my knowledge the same meaning. Please feel free to add your comments on the above.