Comparative morphological study of placentas from women with obesity and normal body weight was performed. Expression of vascular endothelial growth factor (VEGF) and its receptors (VEGFR-1, VEGFR-2, VEGFR-3) was detected by immunohistochemical methods. Nonbranching angiogenesis predominated in the placentas from obese women. Immunohistochemical analysis showed reduced intensity of the reaction to VEGF in the syncytiotrophoblast and vascular endothelium of stem villi and enhanced VEGF expression in non-villous cytotrophoblast and endothelial cells of capillaries of mature intermediate and terminal villi; reduced expression of VEGFR-1 and increased levels of VEGFR-2 and VEGFR-3 in the studied structures were also noted.