The relationship of reproductive hormones to vasomotor symptoms has been incompletely explored, although an increase in such symptoms at midlife and a reduction with hormone therapy suggest a strong and direct relationship. Vasomotor symptoms are reported by 65–76% of women traversing the menopausal transition and are a primary reason for medical intervention during this lifestage. The purpose of this report is to relate serum concentrations of the reproductive hormones estradiol (E2), follicle stimulating hormone (FSH), testosterone (T), and dehydroepiandrosterone sulfate (DHEAS) and the free hormone indices FEI and FTI with the occurrence of vasomotor symptoms in women traversing the menopausal transition. SWAN is a multi-site, longitudinal, observational cohort study of the menopausal transition being conducted in community-based groups of women. At baseline, 3302 menstruating women who belonged to one of 5 ethnic/racial groups were recruited and followed at an annual visit. Frequencies of symptoms (hot flashes, cold sweats, night sweats, vaginal dryness, leaking urine, heart pounding or racing, headache, and/or stiffness or soreness) for the prior two weeks were self-reported in the annual interview as well as measures of potentially confounding variables. Serum was obtained annually, on days 2–5 of a spontaneous cycle in cycling women or within 90 days of the anniversary date in non-cycling women, and assayed for FSH, E2, T, SHBG and DHEAS. FTI and FEI were calculated. This analysis includes data from 3293 women with a serum hormone value and available vasomotor symptom data from at least one longitudinal visit: baseline, first, second, third, and/or fourth annual follow-up. Data were analyzed using longitudinal marginal logistic regression models and a partial proportional odds model. Vasomotor symptom prevalence increased with increasing logFSH, and this increase was greater when specimens came from outside the day 2–5 window. There was a 29% increase in the overall likelihood of reporting any vasomotor symptoms for each unit increase in serum LogFSH, and a greater increase in women without menses for at least 3 months (OR=1.58). Vasomotor symptom prevalence decreased with increasing logE2 and logFEI, but only when specimens were obtained outside the day 2–5 window. There was a 12% decrease in the likelihood of reporting symptoms with each unit increase in serum logE2 in such samples. LogT and log DHEAS concentrations, and logFTI, were not associated with the prevalence of vasomotor symptoms. When modeled simultaneously with logFSH, logE2 was no longer significantly associated with symptom prevalence. FSH concentrations were positively associated with the frequency of reported hot flashes with a greater effect at higher hot flash frequencies. We conclude that, when modeled together longitudinally, FSH, but not E2, T, DHEAS, FTI or FEI, is positively associated with both the prevalence and frequency of vasomotor symptoms in women at midlife.