Low plasma total cholesterol (TC) concentrations are characteristic during the negative energy balance in early lactating dairy cows. The objective was to investigate short-term effects of different TC concentrations during an aggravated energy deficiency through a 1-week concentrate withdrawal on adaptations of metabolism and milk production. Multiparous Holstein cows (n = 15) were investigated during 3 week beginning at 24 ± 7 DIM (mean ± SD). Cows were kept on pasture and received additional concentrate in experimental week 1 and 3, while in week 2, concentrate was withdrawn. Blood was sampled once and milk twice daily. Based on their average TC concentration during week 1 (prior to concentrate withdrawal), cows were retrospectively assigned into a high (H-Chol; n = 8, TC ≥ 3.36 mmol/L) and a low TC groups (L-Chol; n = 7, TC < 3.36 mmol/L). Concentrations of phospholipids and lipoproteins were higher in H-Chol compared to L-Chol throughout the study (p < 0.05). During concentrate withdrawal, milk yield, glucose and insulin concentrations decreased similarly in both groups, while milk fat, milk acetone and plasma BHB were higher in H-Chol compared to L-Chol (p < 0.05). Compared to initial values, plasma NEFA, TAG and VLDL increased in both groups within 2 days after concentrate withdrawal (p < 0.05). Concentrations of NEFA during week 2 were greater in L-Chol compared to H-Chol (p < 0.05). Despite reintroduction of concentrate, milk yield in H-Chol remained lower for two more days compared to week 1 (p < .05), whereas milk yield recovered immediately in L-Chol. Activity of aspartate aminotransferase was higher in H-Chol compared to L-Chol in week 2 (p < 0.05). Greater plasma TC concentrations were associated with a reduced increase of NEFA. Further research is warranted if TC concentrations are related to adipose tissue mobilization and fatty acid turnover.