The effect of estrogen replacement on several parameters of energy balance was investigated in ovariectomized rats tested during the dark phase of their diurnal cycle. Estrogen replacement, either as 17 beta-estradiol or beta-estradiol-3-benzoate via subcutaneous Silastic capsules, was associated with elevated rates of heat production and dry heat loss relative to untreated ovariectomized controls. Estrogen treatment reduced body mass and retarded fur growth. The effects of estrogen replacement on heat production and dry heat loss could not be attributed to these differences in body mass and fur growth or locomotor activity. Estrogen replacement had no effect on rate of evaporative heat loss. If estrogen replacement was delayed 75 days following ovariectomy, the increase in heat production and dry heat loss was not observed. There was no effect of the hormone treatment on rectal temperature. It was concluded that either heat production was elevated, with dry heat loss increased to compensate for the additional thermal load, or dry heat loss was accelerated with heat production elevated in compensation.