The objective of this study was to find relationships among serum IGF−1, serum testosterone, seminal plasma IGF−1 concentrations and semen parameters in Asian elephants (Elephas maximus). A total of 17 ejaculates (one to three ejaculates/bull) were collected from seven captive elephant bulls by performing rectal massage. Before each ejaculation, blood samples were obtained for serum IGF−1 and testosterone assays. Subsequently, the semen characteristics of each ejaculate were evaluated. Mean serum IGF−1 concentration of elephant bulls was estimated as 326.3 ± 114.6 ng/mL (median, 286.2 ng/mL; range, 167.4–542.7 ng/mL). An increase in serum IGF−1 concentration was found to correlate with the percentage of spermatozoa with intact acrosomes. In addition, IGF−1 concentration was positively correlated with testosterone level. However, seminal IGF−1 concentrations could not be detected. In conclusion, our findings suggest that serum IGF−1 concentration is likely a biomarker of normal testicular functions, particularly spermatogenesis in elephants. Moreover, this commercial IGF−1 ELISA is eligible for analyzing serum IGF−1 concentration in Asian elephants.