The aim of this study was to investigate the effect of corpus luteum (CLs), follicular size on grade and in vitro maturation of bovine oocytes, in relation with and follicular fluid composition. Ovaries were obtained from abattoirs and classified according to bearing CLs (CL +) or non-bearing CLs (CL-), all visible follicles were measured according to their diameters into small follicles (SF≤8 mm) and large follicles (LF>8 mm).The follicular fluids (FF) and oocytes were aspirated from SF and LF in CL+ and CL-ovaries. Oocytes were classified into good, fair and poor quality. Only good quality oocytes were in vitro matured in TCM-199 medium. The concentration of estradiol-17β (E2), progesterone (P4), testosterone and lactic acid in FF were estimated. Results showed that CL + ovaries showed significantly (P<0.001) lower oocyte recovery rate as compared to CLovaries. Also, recovery rate of oocytes was significantly (P<0.001) higher for LF than SF. Proportion of good and fair oocytes derived from CLovaries were significantly (P<0.001) higher, while that of poor oocytes were significantly (P<0.001) lower when oocytes were recovered from CLovaries as compared to CL + ones. Also, proportion of good and fair oocytes were significantly (P<0.001) higher, while that of poor oocytes were significantly (P<0.001) lower when recovered from LF than from SF. Maturation rate was significantly (P<0.001) higher when oocytes were recovered from CLovaries as compared to CL + ones or from LF as compared to SF. Concentration of P4 and lactic acid was significantly (P<0.001) higher, while that of testosterone and E2 was significantly (P<0.001) lower in FF collected from CLthan from CL + ovaries. However, concentration of P4 and testosterone was significantly (P<0.001) higher, while lactic acid concentration was significantly (P<0.001) lower in FF collected from LF than from SF. Concentration of E2 was not affected significantly by follicular size. Effect of interaction between ovarian status and follicular size was significant (P<0.01) only on concentration of E2 and P4. In conclusion, presence of CLs and reduced follicular size showed negative effects recovery rate, quality and in vitro maturation of bovine oocytes. However, improving quality and in vitro maturation was associated with increasing P4 and testosterone concentrations.