Simple SummaryRowing is among the oldest sports disciplines. Involving multiple muscle groups, it poses a considerable challenge to athletes and amateurs. To improve training efficiency, the hypoxic method (decreasing arterial oxygen concentration) is sometimes applied. The study determined the effect of 3-week hypoxic training on blood indicators in competitive rowers. The reported findings demonstrated that the phenomenon of hypoxia could be an extremely effective training measure in rowers as it exerted a beneficial impact on the athletes’ performance.The study assessed the effect of 3-week intermittent hypoxic training on blood biochemical indicators (blood morphology, fibrinogen), blood rheological properties (erythrocyte deformability, aggregation), erythrocyte enzymatic activity (acetylcholinesterase), and maximal oxygen uptake in competitive rowers. Fourteen male rowers were divided into two equal groups: experimental, training on ergometers under normobaric hypoxia (FiO2 = 16.0%), and control, training on ergometers under normoxia (FiO2 = 21%). Fasting blood was taken before and after training. A significant between-group difference in neutrophil levels before training was noted and a significant decrease in white blood cells in the hypoxia group. Both groups exhibited an increase in elongation index. In the normoxia group, a significant increase in erythrocyte aggregation amplitude was revealed. No significant changes occurred in the other biochemical indicators or those evaluating erythrocyte metabolic activity. Normobaric hypoxia increased erythrocyte deformability, improving blood rheological properties. Maximal oxygen uptake significantly increased only in the experimental group.