Hypoxia may be one of the most important stimulations to enhance erythropoiesis associated with increase in hemoglobin concentration of blood. In 27 patients with chronic pulmonary emphysema (CPE), correlation between hemoglobin (Hb) concentration of blood and partial pressure of oxygen (PaO_2) or saturation of oxygen (SaO_2) in arteria blood was studied. Partial pressure of oxygen in mixed venous blood (PvO_2) and cardiac output were also measured during right cardiac catheterization. No significant relationship between Hb concentration and PaO_2 or SaO_2 was observed and Hb concentration of the group having lower level of PvO_2(Pv^^-O_2<35 torr) was significantly less than that of another group having relatively higher level of Pv^^-O_2 (PvO_2≧35 torr).