In an effort to clarify whether the lipid-lowering effect of hemoglobin is due to globin protein or heme, this study investigated the effects of dietary porcine hemoglobin (PH) and porcine globin (PG) on lipids contents of serum, liver, and feces in rats. Five-week-old male Wistar rats were divided into 3 dietary groups of 7 rats each, with one group receiving a control diet and the other groups receiving diets containing 1.25% (w/w) PH or 1.18% (w/w) PG for 4 weeks. The PH diet decreased triacylglycerol content in serum and cholesterol in serum and liver, whereas the PG diet reduced triacylglycerol content in serum and cholesterol in liver. Fecal lipid excretion in the PH group was significantly higher than in the PG group. Therefore, PH affected lipid excretion to feces due to globin protein as well as heme.