This study investigates the role of central vs. peripheral factors in the limitation of maximal oxygen uptake (V O2max) with moderate hypoxia [inspired fraction (FI O 2 ) ϭ14.5%]. Fifteen endurance-trained athletes performed maximal cycle incremental tests to assess V O2max, maximal cardiac output (Q max), and maximal arteriovenous oxygen (a-vO2) difference in normoxia and hypoxia. Muscle biopsies of vastus lateralis were taken 1 wk before the cycling tests to evaluate maximal muscle oxidative capacity (V max) and sensitivity of mitochondrial respiration to ADP (Km) on permeabilized muscle fibers in situ. Those athletes exhibiting the largest reduction of V O2max in moderate hypoxia (Severe Loss group: Ϫ18 Ϯ 2%) suffered from significant reductions in Q max (Ϫ4 Ϯ 1%) and maximal a-vO2 difference (Ϫ14 Ϯ 2%). Athletes who well tolerated hypoxia, as attested by a significantly smaller drop of V O2max with hypoxia (Moderate Loss group: Ϫ7 Ϯ 1%), also display a blunted Q max (Ϫ9 Ϯ 2%) but, conversely, were able to maintain maximal a-vO 2 difference (ϩ1 Ϯ 2%). Though V max was similar in the two experimental groups, the smallest reduction of V O2max with moderate hypoxia was observed in those athletes presenting the lowest apparent Km for ADP in the presence of creatine (KmϩCr). In already-trained athletes with high muscular oxidative capacities, the qualitative, rather than quantitative, aspects of the mitochondrial function may constitute a limiting factor to aerobic ATP turnover when exercising at low FIO 2 , presumably through the functional coupling between the mitochondrial creatine kinase and ATP production. This study suggests a potential role for peripheral factors, including the alteration of cellular homeostasis in active muscles, in determining the tolerance to hypoxia in maximally exercising endurance-trained athletes.exercise; cardiac output HYPOXIC ENVIRONMENTS HAVE repeatedly been observed to depress maximal oxygen uptake (V O 2max ) during whole body exercise in humans, and the magnitude of this reduction is thought to be proportional to the hypoxia-induced diminution of arterial oxygen content (15). Although this phenomenon is well described, a wide interindividual variability in the magnitude of reduction of V O 2max at a given level of hypoxia has been reported by several laboratories (8,14,28,31,37). Of note is the observation that the hypoxia-induced reduction in V O 2max is greater in endurance athletes than in sedentary subjects (28). However, the mechanisms involved in the fitness-specific limitation of maximal aerobic metabolism with moderate hypoxia [inspired fraction (FI O 2 ) ϭ ϳ14.5% or 2,000 -3,000 m] remain unclear, as changes in oxygen extraction may play a role to maintain arteriovenous oxygen (a-vO 2 ) difference and aerobic power. For instance, despite being the two determinants of V O 2max during whole body exercise in athletes, little is known about the respective contribution of cardiac output (Q ) and a-vO 2 difference in the individual hypoxia tolerance, especially within a hom...