It is found that the profiles of CO J = 1-0 at 2.6 mm observed in the cool carbon star V Hydrae show marked asymmetry and noticeable spatial variations, while the profiles of HCN J = 1-0 observed at the same time show no marked asymmetry. The two strong-velocity components in CO profile could be spatially resolved, indicating that the strong CO emission in V Hya originates in a region of bipolar geometry. The CO profiles also show temporal variation with time scale less than 1 yr, both in intensity and in shape, and such a time variation may indicate the importance of radiative excitation which can be time-dependent due to variability of the central star. Also, optical observations of V Hya can consistently be understood by a bipolar-disk model. Thus, V Hya may represent an early stage of the development of a bipolar nebula. 19 references.