Objective: We sought to investigate the role of androgen excess and oligoovulation or anovulation, two major diagnostic criteria of polycystic ovary syndrome (PCOS), and their effect on hemoglobin concentrations. Material and Methods: This prospective, crosssectional study included 82 PCOS (based on Rotterdam's criteria) and 69 non-PCOS women aged 20-25 years who attended our obstetrics and gynecology outpatient clinic between January and June 2016. All participants underwent a medical history, physical examination, hematologic assessment, and biochemical tests. PCOS patients were compared with non-PCOS controls in terms of hemoglobin levels and the prevalence of anemia. Results: No differences in age, socioeconomic status, or education level were identified between the groups. Mean hemoglobin concentrations in the PCOS and control groups were 13.2±0.9 (9.4-15.1) and 12.8±1.0 (9.6-14.8) g/dL, respectively. The prevalence of anemia was lower among patients with PCOS (8.5%) compared with controls (17%), with mean hemoglobin concentrations significantly higher in patients with PCOS (p=0.015). Conclusion: Oligoovulation or anovulation and androgen excess, 2 major diagnostic criteria of PCOS, may affect hemoglobin concentrations. The data presented here show that women with PCOS had significantly higher levels of hemoglobin and lower rates of anemia compared with healthy controls.