Objective: To investigate the relationship between oxytocin, menopause and obesity. Methods: A cross-sectional analysis on 56 obese (OB; 28 premenopausal) and 53 normal-weight women (NW; 27 premenopausal) was performed by measurement of oxytocin, leptin, adiponectin, gonadotropins, sex steroids, glucose, and lipid homeostasis as well as DXA assessment of fat mass (%FM) and fat-free mass (FFM). Results: Women from NW and OB groups were comparable for age but differed in anthropometric measures. In our cohorts, menopause was not associated with changes in gluco-lipid homeostasis and %FM, while FFM was lower in postmenopausal women from both study groups (p < 0.05). In each group, leptin was unaltered, and adiponectin only marginally changed across menopause, while oxytocin levels were lower in post- than in premenopausal women (NW: p < 0.05; OB: p < 0.005), and lower in OB than NW women, either when assessed as whole groups or if stratified by menopause (p < 0.001). In correlation analysis, inverse associations related oxytocin to menopause, obesity, and adiposity-related measures. BMI (p < 0.0001) and menopause independently predicted oxytocin levels (p < 0.001), but their interaction was null (p = 0.5). Conclusions: Obesity and menopause are independent negative predictors of plasma oxytocin. Longitudinal studies should clarify the role of oxytocin on weight modifications experienced around and after menopause.