Background: The aim of the study was to evaluate the role of cardiopulmonary exercise testing (CPET) parameters in assessing exercise capacity improvement after percutaneous pulmonary valve implantation (PPVI (25.3 ± 3.3 to 24.3 ± 3.0, p = 0.04) and oxygen consumption at peak exercise (pVO 2 ) (20.4 ± 5.0 to 22.6 ± 5.3 mL/ /kg/min, p = 0.04). Improved EQCO 2 correlated with an increase in right and left ventricular ejection fraction (respectively R = -0.57, p = 0.002; R = -0.56, p = 0.002). In this study, no baseline factors that might affect improvement in exercise function were found. Conclusions: Successful PPVI leads to an improvement in exercise capacity and hemodynamic response to exercise. The correlation between the improvement in EQCO 2 or peak VO 2 and baseline characteristics was too weak to reliably identify the group of patients that will benefit from the procedure. (Cardiol J 2015; 22, 3: 343-350) Key words: percutaneous pulmonary valve implantation, cardiopulmonary exercise testing, grown up congenital heart disease 343