Patients with chronic obstructive pulmonary disease (COPD) develop lung hyperinflation due to limited expiratory flow, loss of elastic recoil of the lungs or the combination of both, a circumstance that can become intensified during exercise. The increased operating lung volumes, both at rest and during exercise, overload the inspiratory muscles and limit the capacity for lung expansion, resulting in a neuro-mechanical uncoupling that generates or intensifies dyspnoea and limits exercise tolerance. In addition, lung hyperinflation can contribute to cardiovascular dysfunction during exercise and be a risk factor for the development of lung cancer. Bronchodilators are effective for reducing lung hyperinflation, both in static and dynamic situations, and other therapeutic alternatives are also available. In short, lung hyperinflation is a treatable trait of COPD with an important clinical and prognostic impact that requires specific attention.