Abstract. The serum T 3 to T 4 ratio is a useful indicator for differentiating destruction-induced thyrotoxicosis from Graves' thyrotoxicosis. However, the usefulness of the serum free T 3 (FT 3 ) to free T 4 (FT 4 ) ratio is controversial. We therefore systematically evaluated the usefulness of this ratio, based on measurements made using two widely available commercial kits in two hospitals. Eighty-two untreated patients with thyrotoxicosis (48 patients with Graves' disease and 34 patients with painless thyroiditis) were examined in Kuma Hospital, and 218 patients (126 with Graves' disease and 92 with painless thyroiditis) and 66 normal controls were examined in Ito Hospital. The FT 3 and FT 4 values, as well as the FT 3 / FT 4 ratios, were significantly higher in the patients with Graves' disease than in those with painless thyroiditis in both hospitals, but considerable overlap between the two disorders was observed. Receiver operating characteristic (ROC) curves for the FT 3 and FT 4 values and the FT 3 /FT 4 ratios of patients with Graves' disease and those with painless thyroiditis seen in both hospitals were prepared, and the area under the curves (AUC), the cut-off points for discriminating Graves' disease from painless thyroiditis, the sensitivity, and the specificity were calculated. AUC and sensitivity of the FT 3 /FT 4 ratio were smaller than those of FT 3 and FT 4 in both hospitals. The patients treated at Ito hospital were then divided into 4 groups according to their FT 4 levels (A: £2.3, B: >2.3~£3.9, C: 3.9~£5.4, D: >5.4 ng/dl), and the AUC, cutoff points, sensitivity, and specificity of the FT 3 /FT 4 ratios were calculated. The AUC and sensitivity of each group increased with the FT 4 levels (AUC: 57.8%, 72.1%, 91.1%, and 93.4%, respectively; sensitivity: 62.6%, 50.0%, 77.8%, and 97.0%, respectively). The means ± SE of the FT 3 /FT 4 ratio in the Graves' disease groups were 3.1 ± 0.22, 3.1 ± 0.09, 3.2 ± 0.06, and 3.1 ± 0.07, respectively, versus 2.9 ± 0.1, 2.6 ± 0.07, 2.5 ± 0.12, and 2.3 ± 0.15, respectively, in the painless thyroiditis groups. In the painless thyroiditis patients, the difference in the FT 3 /FT 4 ratio between group A and group D was significant (p<0.05). Thus, the FT 3 /FT 4 ratio in patients with Graves' disease likely remains unchanged as the FT 4 level rises, whereas this ratio decreases as the FT 4 level rises in patients with painless thyroiditis. In conclusion, the FT 3 /FT 4 ratios of patients with painless thyroiditis overlapped with those of patients with Graves' disease. However, this ratio was useful for differentiating between these two disorders when the FT 4 values were high.