Glycerol‐3‐phosphate oxidoreductase (sn‐glycerol 3‐phosphate:NAD+ 2‐oxidoreductase, EC 1.1.1.8) from human placenta has been purified by chromatography on 2,4,6‐trinitrobenzenehexamethylenediamine‐Sepharose, DEAE‐Sephadex A‐50 and 5′‐AMP‐Sepharose 4B approximately 15800‐fold with an overall yield of about 19%. The final purified material displayed a specific activity of about 88 μmol NADH min−1 mg protein−1 and a single protein band on polyacrylamide gel electrophoresis in the presence of sodium dodecyl sulphate. The native molecular mass, determined by Ultrogel AcA 44 filtration, was 62000 ± 2000 whereas the subunit molecular mass, established on polyacrylamide gel in the presence of 0.1% sodium dodecyl sulphate, was 38000 ± 500. The isoelectric point of the enzyme protein, determined by column isoelectric focusing, was found to be 5.29 ± 0.09. The pH optimum of the placental enzyme was in the range 7.4–8.1 for dihydroxyacetone phosphate reduction and 8.7–9.2 for sn‐glycerol 3‐phosphate oxidation. The apparent Michaelis constants (Km) for dihydroxyacetone phosphate, NADH, sn‐glycerol 3‐phosphate and NAD+ were 26 μM, 5 μM, 143 μM and 36 μM respectively. The activity ratio of cytoplasmic glycerol‐3‐phosphate oxidoreductase to mitochondrial glycerol‐3‐phosphate dehydrogenase in human placental tissue was 1:2. The consumption of oxygen by human placental mitochondria incubated with the purified glycerol‐3‐phosphate oxidoreductase, NADH and dihydroxyacetone phosphate was similar to that observed in the presence of sn‐glycerol 3‐phosphate. The possible physiological role of glycerol‐3‐phosphate oxidoreductase in placental metabolism is discussed.