Purpose: To evaluate the relationships between refractive error, axial length (AL), and retinal vascular oxygen saturation in an adult population. Methods: This was a hospital-based, prospective observational study. The left eyes of phakic adult subjects without media opacity were analyzed. Subjective undilated manifest refraction was performed, and refractive errors were defined as myopia (spherical equivalent [SE], ,À1 D), emmetropia (SE between À1 D and þ1 D) and hyperopia (SE .þ1 D). Retinal oximetry was performed using the Oxymap system (Oxymap Inc., Reykjavik, Iceland). Multivariate linear regression models were constructed to assess the relationship between retinal vascular oxygen saturation, SE, and AL obtained with optical biometry, with adjustments for age, sex, race, blood pressure, hyperlipidemia, and diabetes mellitus. Results: There were 85 subjects, with mean age of 66.1 6 11.3 years. The majority were female (60%) and Chinese (84%). A total of 60% were myopic, 28% emmetropic, and 12% hyperopic. Mean SE was À5.29 6 6.51 D and mean AL was 25.30 6 2.99 mm. In multivariate analyses, more myopic SE and longer AL were associated with lower retinal arteriolar oxygen saturation (regression coefficient B ¼ 0.61 [95% confidence interval, 0.28, 0.95], P ¼ 0.001; and B ¼ À1.13 [95% confidence interval, À1.71, À0.56], P , 0.001, respectively). Subjects with myopic SE and AL also had lower retinal arteriolar oxygen saturation than emmetropes and hyperopes (P ¼ 0.03 and P ¼ 0.02, respectively). Conclusions: Eyes with more myopic SE and longer AL have lower retinal arteriolar oxygen saturation. Translational Relevance: This study provides direct evidence of a link between retinal oxygenation and hypoxia and myopia by using a novel device that quantifies retinal vascular oxygenation in vivo.