The pygmy marmoset (Cebuella pygmaea) is the smallest New World Monkey (average body mass of 120-130 g). As such, it faces possible challenges to thermoregulation. Small mammals (e.g., rats) are well known to lower body temperature and metabolism in response to hypoxia; however, small primates have not been studied in this respect nor have, in general, the interactions between metabolism and ventilation. Because little is known about these responses in small primates, it seemed of great interest to assess the hypoxia-induced metabolic depression and drop in body temperature and the associated ventilatory requirements in this species under hypoxic conditions. Exposure to graded hypoxia (30 min at each of 18, 16, 14, 12, and 10% O₂) caused body temperature to drop from the normoxic value of 39 to 37°C. This was accompanied by a marked metabolic depression (O₂ consumption was ~68% of the normoxic value, implying a suppression of metabolism greater than that predicted from a typical value of the effect of 10°C change on metabolism of 2-3 times). Minute ventilation declined in parallel to metabolism, maintaining a constant air-convection requirement during hypoxia; thus this species did not show the typical mammalian hyperventilation. Acute exposure to 10% O₂ led to a similar overall decline in metabolism and body temperature and qualitative differences in the timing of these changes. The pygmy marmoset shares some similarities in its hypoxic metabolic response with other mammals of similar size yet appears to be unique in its much diminished ventilatory response to hypoxia.