Wapiti are seasonally polyestrous. The transition into and out of the breeding season is marked by resumption of ovulation in autumn and cessation of ovulation in winter. Onset of ovulatory cyclicity is distinct and associated with aggressive breeding behavior of stags in rut. Cessation of ovulation at the end of the breeding season is not distinguished by behavioral patterns. The objective of the present study was to characterize follicular and luteal dynamics in wapiti during the transitional periods into and out of the breeding seasons. Transition from anestrus to estrus was monitored in 15 hinds, aged 2 to 14 years, over two successive seasons (11 in year 1, with 5 hinds from year 1 used again in year 2 along with 4 new hinds; n = 20 observations). Transition from estrus to anestrus was monitored in 11 hinds over 1 season (n = 11 observations). Hinds were maintained on a farm near Saskatoon, Saskatchewan (52°07′N, 106°38′W). The ovaries were examined daily during September through October by transrectral ultrasonography using a B-mode ultrasound machine and a 7.5 MHz linear array transducer for transition to estrus, and December through April for transition to anestrus. The first ovulation was recorded on September 15 and all hinds had ovulated for the first time by October 7. In 17 of 20 observations, the duration of the first interovulatory interval (IOI) was 9.3 ± 0.4 days (mean ± SEM). With one exception, these IOIs were characterized by one wave of follicular development. The remaining three IOIs ranged from 16 to 23 days and consisted of two or three waves of follicle development. The second ovulation occurred by October 15 in hinds with a short IOI and by October 17 in all remaining hinds. The mean dates of first and last ovulation were September 25 and February 7, respectively, an interval of 135 days. The median date of the last ovulation was February 15 and the range was from December 3 to March 22. Duration of the last IOI of the season (21.2 ± 0.6 days) was similar to the notional 21-day cycle for wapiti, but longer (P < 0.05) than the duration of the first IOI (10.9 ± 1.0 days). Maximum diameters of the first 2 ovulatory follicles were similar (11.3 ± 0.4 vs. 11.3 ± 0.2 mm), but were larger (P < 0.05) than the last 2 ovulatory follicles of the breeding season (10.3 ± 0.3 vs. 10.1 ± 0.4 mm). Maximum diameter of the corpus luteum (CL) tended (P = 0.06) to be smaller for the short IOI than for longer IOI of the first and last cycles. Diameter of the last CL of the season was not different from that of the previous CL (12.8 ± 0.6 vs. 12.5 ± 0.6 mm); however, it was detected for a longer period (22.3 ± 1.2 vs. 19.3 ± 0.7 days; P < 0.05). Estrous cycles during transition into the breeding season have been described as being irregular and those out of the breeding season as increasingly long. In the present study, the transition periods were characterized by regular events. Transition to regular estrous cycles was preceded by one short (9 days) IOI. The last IOI of the breeding season was the same as that reported during the rut. Transition to anestrus occurred most commonly in February and was marked by a failure of the dominant follicle to ovulate after luteal regression.