In this study, the effect of Theranekron® on ovaries were evaluated in healthy and ischemia- reperfusion injury rat model. Thirty-eight female, nulligravida Wistar Albino rats were divided into groups as follows; Group 1: control, Group 2: Theranekron® (single dose of 0,3 mg/kg, intraperitoneal, for 3 hours) Group 3: ischemia-reperfusion and Group 4: ischemia- reperfusion+ Theranekron® (single dose 0,3 mg/kg, intraperitoneal, for 3 hours). Each groups were analyzed biochemically and histologically. As compared with Group 1, there was a significant increase in the number of atretic follicles and interstitial cells in Group 2. Also, nitrite, nitrate, and malondialdehyde (MDA) levels increased significantly in Group 2. Group 3 represented intense hyperemia and hemorrhages on follicles surrounding the cortex and in the corpus luteum and marked increase in the number of atretic follicles, compared to Group 2. Nitrite and nitrate levels in Group 3 were similar to those in Group 2, but MDA levels were lower than those in Group 2. Group 4 showed very slight decrease in interstitial cells compared with Group 2 and Group 3 and also fewer atretic follicles were observed. In this group, MDA levels decreased compared to Group 2 and increased compared to control and Group 3. Based on the results, we may speculate that Theranekron® may have some degenerative effects on intact ovaries, and may have ameliorationg effects on ischemia reperfusion injury in ovaries. But, further studies are needed to determine the optimum remedial dose of Theranekron® on ischemia reperfusion injury in rat ovaries.