Abstract Objective: To determine if maternal hematocrit and serum albumin can predict intrauterine growth retardation and/or preterm delivery. Methods: Analyses were performed during each trimester of pregnancy to evaluate the predictive value of these two common laboratory parameters as predictors of intrauterine growth retardation and/or prematurity. Results: 1468 women participated in the study. Intrauterine growth retardation occurred in 9.9% and preterm delivery in 6.1%. A significant inverse correlation between hematocrit and albumin and birth weight was found ( r= -0.005, p = 0.04, and r= -0.07, p = 0.007, respectively), albumin being a stronger predictor as demonstrated by multiple regression. Low hematocrit at the third visit was associated with a longer pregnancy duration ( r= -0.06, p = 0.02). Women with higher serum albumin levels at the second visit, had a longer pregnancy duration, possibly reflecting a better nutritional status ( r= 0.057, p= 0.03). To determine the predictive value of hematocrit and serum albumin, the prevalence of intrauterine growth retardation and premature delivery in the highest quartiles were compared with the lowest, and no significant differences were observed ( p > 0.1). Conclusion: Maternal hematocrit and serum albumin concentation cannot be used as useful predictors of intrauterine growth retardation or preterm delivery.