This study aimed to explore the effects of raloxifene (Rx) and estradiol (E2) on prothrombin time (PT), partial thromboplastin time (APTT), coagulation factors (VII, X, XI), and fibrinogen concen-trations in rats. Rats were ovariectomized 11 days prior to starting the treatment. Then they re-ceived Rx or E2 (1 to 1000 µg/Kg) or propylene glycol (0.3 ml; vehicle, V) subcutaneously for three consecutive days. Plasmas were collected to measure the hemostatic parameters. Rx significantly increased PT (8%, at 1000 µg/Kg; p<0.05) and APTT at all doses evaluated (32, 70, 67, 30%; p<0.05, respectively). Rx (1 to 1000 µg/Kg) decreased the activity of factor VII by -20, -40, -37, and -17% (p<0.05), respectively, while E2 increased it by 9, 34, 52, and 29%; Rx reduced factor X activity at 10 and 100 µg/kg doses (-30, and -30% p<0.05), while E2 showed an increment of 24% with 1000 µg/kg dose only; Rx (1-100 µg/Kg) diminished FXI activity (-71, -62, -66; p<0.05), while E2 (1 and 10 µg/Kg) diminished it in -60 and -38, respectively (p<0.05); Rx (1000 µg/Kg) produced an increment of 29% (p<0.05) in fibrinogen concentration, but not E2. Our findings suggest that raloxifene has a pro-tective effect on hemostasis in rats.