ABSTRACT. A fetal lamb model was used to investigate whether the effects of maternal O2 administration on fetal blood gases and hemodynamics were modified when the fetoplacental circulation was compromised by stepwise compression of both umbilical veins. At basal state, O2 administration increased O2 saturation (Sao2) and the pulsatility index (PI) of the carotid artery Doppler wave form ( p < 0.01). The first compression decreased left ventricular output (-21 + 16%, mean + 1 SD, p < 0.01) and umbilical mean velocity (-22 + 28%, p < 0.01) but did not modify carotid pH, Sao2, or the PI in any of the arteries studied. At this level of compression, O2 administration increased carotid Sao2 ( p < 0.01) but did not affect carotid PI. After a second compression, left ventricular output and umbilical mean velocity were even more reduced 1-39 f 21% ( p < 0.01) and -53 f 23% ( p < 0.01), respectively]. With this compression, carotid pH, Sao2, and PI decreased, whereas umbilical and descending aorta PI increased. O2 administration at this level of compression increased carotid Sao2 ( p < 0.01) but did not modify carotid PI.