Introduction. Clinical guidelines indicate that haematocrit should be monitored during testosterone replacement therapy (TTh) with action taken if a level of 0.54 is exceeded. Aim. To consider the extent of changes in haematocrit and putative effects on viscosity, blood flow and mortality following TTh. Methods. We focused on literature describing benefits and possible pitfalls of TTh including increased haematocrit. We used data from the BLAST RCT to determine change in haematocrit after 30 weeks of TTh and describe a clinical case showing the need for monitoring. We consider the validity of the current haematocrit cutoff value at which TTh may be modified. Ways in which haematocrit alters blood flow in the micro-and macro-vasculature are also considered. Main Outcome Measures. (1) change in haematocrit, (2) corresponding actions taken in clinical practice and (3) possible blood flow changes following change in haematocrit. Results. Analysis of data from the BLAST RCT showed a significant increase in mean haematocrit of 0.01, the increase greater in men with lower baseline values. While, none of 61 men given TTh breached the suggested cutoff of 0.54 after 30 weeks, a clinical case demonstrates the need to monitor haematocrit. An association between haematocrit and morbidity and mortality appears likely but not proven and , may be evident only in patient subgroups. The consequences of an increased haematocrit may be mediated by alterations in blood viscosity, oxygen delivery and flow. Their relative impact may vary in different vascular beds. Conclusions. TTh can effect an increased haematocrit via poorly understood mechanisms and may have harmful effects on blood flow that differ in patient