Previous studies have reported various health benefits of virgin coconut oil (VCO) such as weight management, treatment of burns, infections, improve phagocytic activity, etc. The present study was conducted to investigate the anti-ulcer and hematological properties of VCO against indomethacininduced gastric ulcers using rat model. Twenty-four Wistar albino rats were used for the study and were divided into 6 groups of 4 rats each. Group 1 rats served as the normal control; group 2 (positive control) rats were administered indomethacin only, at a dose of 100 mg/kg body weight. Group 3 rats were treated with a standard drug (cimetidine) at a dose of 100 mg/kg body weight. Groups 4 (3 ml/kg body weight VCO), 5 (6 ml/kg body weight VCO) and 6 (9 ml/kg body weight VCO) rats were treated as stated. The gastric juice volume of group 6 showed a statistically significant reduction (p < 0.05) in the gastric juice volume when compared with the positive control group. There was a significant increase (p < 0.05) in the packed cell volume (PCV), hemoglobin concentration and red blood cell count of VCO treated groups 4, 5 and 6 when compared with the positive control. Nonetheless, there was a significant decrease in the HDL-cholesterol, TAG concentration and total cholesterol level of the tests groups 4, 5 and 6 when compared with the positive control. Histological findings revealed that stomach sections of rats in groups 4 and 5 showed moderate widespread mucosal necrosis and ulceration, while that of group 6 rats showed focal area of mucosal ulceration with evidence of healing by fibrosis when compared with the positive control. The findings of this research revealed that VCO possesses ulcer ameliorative properties and could therefore be used for the treatment of gastric ulcers.