This study tested the hypothesis that women would have blunted physiological responses to acute hypoxic exercise compared with men. Fourteen women taking oral contraceptives (28 ± 0.9 yr of age) and 15 men (30 ± 1.0 yr of age) with similar peak O₂ consumption (O_2 peak) values (56 ± 1.1 vs. 57 ± 0.8 ml · kg fat-free mass¹ · min¹) were studied under hypoxic (H; fraction of inspired oxygen = 13%) vs. normoxic (fraction of inspired oxygen = 20.93%) conditions. Cardiopulmonary, metabolic, and neuroendocrine measures were taken before, during, and 30 min after three 5-min consecutive workloads at 30, 45, and 60% O_2 peak. In women compared with men, glucose levels were greater during recovery from H (P < 0.05) and lactate levels were lower at 45% O_2 peak, 60% O_2 peak, and up to 20 min of recovery (P < 0.05), regardless of trial (P < 0.0001). Although the women had greater baseline levels of cortisol and growth hormone (P < 0.0001), gender did not affect these hormones during H or exercise. Catecholamine responses to H were also similar between genders. Thus the endocrine response to hypoxia per se was not blunted in women as we had hypothesized. Other mechanisms must be at play to cause the gender differences in metabolic substrates in response to hypoxia.