We present a complete analysis of the electric dipole moment (EDM) of the ρ-meson induced by CP violating operators of dimension 4 and 5 within the QCD sum rules approach. The set of CP-odd operators includes the theta term and the electric and chromoelectric dipole moments of the three light quarks. We find that the ρ-meson EDM induced purely by the EDMs of quarks is smaller, but still in reasonable agreement, with the predictions of a naive constituent quark model. However, the chromoelectric dipole moments, including that of the strange quark, give comparable and sometimes larger contributions. We also consider the effect on the hadronic EDM of the existence of Peccei-Quinn symmetry. When this symmetry is active, chromoelectric dipole moments induce a linear term in the axion potential which leads to a numerically important vacuum contribution to the hadronic EDM. * pospelov@mnhepw.hep.umn.edu † a.ritz@damtp.cam.ac.uk ‡ Present address 1