1. By a procedure involving the use of acid acetone hemoglobin may be rapidly separated into a precipitate of denatured globin and an acetone solution of heme. 2. By neutralization procedures the denatured globin may be largely converted into a soluble, apparently native form which can combine with heme to form hemoglobin. 3. The heme may be obtained in acetone-free, slightly alkaline solution without the use of strong alkali which may modify the heme.