In ten healthy volunteers, we assessed the effects produced by 2-min 12% O 2 breathing on the instantaneous time course of: arterial oxygen saturation (SaO 2), respiratory frequency (RF), end-tidal CO 2 (ETCO 2), R-R intervals (RR), systolic pressure (SP), diastolic pressure (DP), pulse pressure (PP), maximal amplitude of arterial pressure derivative (dmAP), and, estimated by a time frequency distribution, their low frequency powers (LF RR , LF PP and LF dmAP) and high frequency powers of RR (HF RR) and respiration (HF Res) as well as baroreflex sensitivity (BRS) and respiratory sinus arrhythmia sensitivity (RSAS) by alpha index. Mean SaO 2 of 82±2% provoked consistent response patterns in all variables: with 9-s latency, progressive decrease (p<0.002) until the end of LF dmAP , LF PP , RR, HF RR , RSAS, dmAP, ETCO 2 and BRS (36-s latency), and gradual increase (p<0.004) of RF; with 108-s latency, a sustained decrease (p<0.004) of SP and DP. Hypocapnic hypoxemia provokes: an immediate functional depression shown by gradual reductions of sympathetic and vagal activities that contribute to the progressive fall of RR, RSAS and BRS with unchanged arterial pressure, and, through chemoreflex activation, a progressive increase of RF; and later, via direct vasodilation, a reduction of arterial pressure. 2.2. Protocol Volunteers visited the laboratory twice. The first time, their health status and anthropometric variables were evaluated, and in the second visit the experimental stage