The aim of this study was to analyse racing performance data in Irish greyhounds with regard to genetic and environmental variation. Estimation of heritabilities for racing time (RT) and ranking, and the prediction of breeding values for all greyhounds in the investigated data were carried out. Data from 42,785 races in Ireland in the years 2000-2003 were available. These results were obtained from 42,880 greyhounds on 20 race tracks over a distance of 480 m. Three traits were analysed, RT, ranking and a scaled logarithmic function for RT (ART), which was used to adjust racing time to be normally distributed. The data were analysed with a bivariate animal model. The estimated heritabilities were moderate for RT (0.31) and ART (0.38), but very low for ranking (0.10). The repeatabilities were 0.56 (RT), 0.51 (ART) and 0.13 (ranking). The genetic correlations were very high, 0.99 (RT-ranking) and 0.96 (ART-ranking), while the phenotypic correlation was lower, 0.60 (RT-ranking) and 0.62 (ART-ranking). The genetic trend for the traits as well as the phenotypic change of the average RT was positive.