The action of hexobendine (N, N'-Dimethyl-N, N'-bis-[3(3',4',5'-trimethoxybenzoxy)-propyl]-ethyl-enediamine) was compared with the effects produced by anoxia on the concentration of various myocardial substrates in rats which had been starved for 24 hours and anaesthetized with urethane-chloralose. The following results were obtained: 1. 1) The procedure elaborated in pilot experiments to ensure minimal tissue anoxia during removal of the heart consisted of anaesthesia, artificial respiration during opening of the thorax and rapid freezing of the beating heart employing metal clamps cooled in liquid nitrogen. The myocardial concentrations of fructose-1, 6-diphosphate, glycerol-3-phosphate and lactate were taken as criteria of the virtual absence of anoxia and their concentrations in control experiments did not exceed 3.0, 1.0 and 50 μmoled/100 g wet, respectively. 2. 2) Hexobendine (1.0 mg/kg i.v.) caused a significant, but transient, increase in the myocardial concentrations of ATP, glycerol-3-phosphate, malate, citrate and free fatty acids between the first and third minute following its injection. The concentrations of glucose- and fructose-6-phosphate, glucose, glycogen, lactate, pyruvate, 2-oxoglutarate and esterified fatty acids were not significantly altered within the 10-minute period immediately following the injection of hexobendine. 3. 3) Respiratory arrest of 1 minute's duration following decapitation of the animals resulted in a significant decrease in the glycogen, ATP, citrate and 2-oxoglutarate concentrations of the heart, whereas the fructose-1, 6-diphosphate, glycerol-3-phosphate, lactate and glucose concentrations rose significantly. There was no significant alteration in the myocardial concentrations of malate, hexose phosphates, pyruvate, free fatty acids and esterified fatty acids. 4. 4) The differences between the alteration in cardiac metabolism caused by anoxia on the one hand, and the action of hexobendine on the other hand are discussed and an evaluation made of the importance of these changes in connection with the coronary dilatation resulting from anoxia and pharmacodynamic influences, respectively.