ABSTRACT. Brazil is among the five largest producers of cotton in the world, cultivating the species Gossypium hirsutum L. r. latifolium Hutch. The cultivars should have good fiber quality as well as yield. Genetic improvement of fiber traits requires the study of the genetic structure of the populations under improvement, leading to the identification of promising parent plants. To this end, it is important to acquire some information, such as estimates of genetic variance components and heritability coefficients, which will support the appropriate choice of the breeding strategy to be employed as well as enable the estimation of gains from selection. This study aimed to evaluate some agronomic characteristics, such as fiber quality and yield, estimating genetic parameters for the purpose of predicting earnings. Twelve cultivars of cotton, including four male progenitors (CNPA 01-42, BRS Verde, Glandless, and Okra leaf) and eight female progenitors (Delta opal, CNPA 7H, Aroeira, Antares, Sucupira, Facual, Precoce 3, and CNPA 8H), were used in performing crosses according to design I, proposed by Comstock and Robinson (1948). The experimental design was a randomized block with four replications. We observed genetic variability among all traits as well as higher efficiency of selection for the gains related to traits. Our results showed that the combined selection presented the highest genetic gains for all traits. For fiber length, the female/male selection and the combined selection resulted in the highest genetic gain.