The coagulation factors VII and X and fibrinogen were detected in equine ovarian follicular fluid. The amounts of fibrinogen and factor X were approximately 40 percent of that found in normal equine plasma while the level of factor VII was lower, at approximately 14 percent. The addition of human recombinant tissue factor caused fibrin formation in the follicular fluid. The thrombin generating activity appears to be confined to the tissue factor pathway since no activity associated with factors VIII:C, IX or IX was detected. Fibrinolytic activity, at higher levels than that found in plasma, was detected in all follicular fluid samples. It is proposed that the hemostatic mechanism may be modulated in follicular fluid in a manner analogous to that in plasma since inhibitory proteins including AT-III and antiplasmin were present in the follicular fluid samples at relatively constant levels that approached those found in normal equine plasma.