Blood characteristics of reindeer calves fed on lichens were studied during the winter. 2. The serum total protein, albumin and globulin concentrations decreased during the winter, obviously partly due to protein deficiency in the diet. 3. High urea levels in autumn and midwinter were possibly reflections of increased stress and/or protein catabolism. 4. Marked lipolysis occurred in late winter, and thus increases were observed in fatty acids, glycerol, triglycerides and acetoacetate concentrations. 5. Serum sorbitol dehydrogenase (SDH) activity increased towards the spring, most probably reflecting changes in the liver. 6. A decrease in serum alkaline phosphatase (AP) activity occurred in midwinter due to cessation of growth. 7. It can be concluded that all the animals were at least in moderate condition throughout the winter and the physiological responses to a negative energy balanced reflected good adaptation.