We examine the nature, number, and interrelation of conservation laws in the one-dimensional Hubbard model. In previous work by Shastry ͓Phys. Rev. Lett. 56, 1529 ͑1986͒; 56, 2334 ͑1986͒; 56, 2453 ͑1986͒; J. Stat. Phys. 50, 57 ͑1988͔͒, who studied the model on a large but finite number of lattice sites (N a ), only N a ϩ1 conservation laws, corresponding to N a ϩ1 operators that commute with themselves and the Hamiltonian, were explicitly identified, rather than the ϳ2N a conservation laws expected from the solvability and integrability of the model. Using a pseudoparticle approach related to the thermodynamic Bethe ansatz, we discover an additional N a ϩ1 independent conservation laws corresponding to nonlocal, mututally commuting operators, which we call transfer-matrix currents. Further, for the model defined in the whole Hilbert space, we find there are two other independent commuting operators ͑the squares of the -spin and spin operators͒ so that the total number of local plus nonlocal commuting conservation laws for the one-dimensional Hubbard model is 2N a ϩ4. Finally, we introduce an alternative set of 2N a ϩ4 conservation laws which assume particularly simple forms in terms of the pseudoparticle and Yang-particle operators. This set of mutually commuting operators lends itself more readily to calculations of physically relevant correlation functions at finite energy or frequency than the previous set.