Abstract. Using the conjugation symmetry on Heegaard Floer complexes, we define a three-manifold invariant called involutive Heegaard Floer homology, which is meant to correspond to Z4-equivariant Seiberg-Witten Floer homology. Further, we obtain two new invariants of homology cobordism, d andd, and two invariants of smooth knot concordance, V 0 and V 0. We also develop a formula for the involutive Heegaard Floer homology of large integral surgeries on knots. We give explicit calculations in the case of L-space knots and thin knots. In particular, we show that V 0 detects the non-sliceness of the figure-eight knot. Other applications include constraints on which large surgeries on alternating knots can be homology cobordant to other large surgeries on alternating knots.