Eighteen patients with malignant lymphoma, 10 non‐Hodgkin's and 8 Hodgkin's, were treated with high‐dose CVB (cyclophosphamide 4 × 1.5 g/m2, etoposide 4 × 250–400 mg/m2, carmustine 4 × 150–200 mg/m2), followed by autologous peripheral blood stem cells (PBSC, 13 patients) or bone marrow (BM, 5 patients) transplantation. At the time of autograft 6 patients were in complete remission (CR), 3 in partial remission (PR) and 5 in relapse (4 sensitive, 1 resistant), whereas 4 had progressive disease. All CR patients had poor prognostic features at presentation. PBSC were collected at the time of rapid hematologic recovery after intense chemotherapy by means of a cell separator. All patients engrafted. Median time to achieve ≥0.5 × 109/1 polymorphonuclear cells (PMN) and ≥50 × 109/1 platelets was 13 days for both cell types in PBSC autografted patients, versus 20 and 28 days respectively in BM autografted patients. A significant advantage of PBSC over BM was found in terms of time needed to recover either PMN ≥0.5 and PMN≥1 × 109/1 (p = 0.01). Autograft‐related toxicity consisted mainly of moderate severity interstitial pneumopathy (3 patients), and veno‐occlusive disease (1 patient) that resolved completely. Of the 12 patients autografted with detectable disease, 6 (50%) obtained a CR. Seven out of 18 autografted patients (39%) had disease progression within 1 to 5 months of autograft. The projected progression‐free survival is over 50% at 4 years and it was significantly longer in patients with sensitive disease than in those with resistant disease (p = 0.01). The efficacy and the low toxicity of CVB suggest that autograft with PBSC may be proposed for the primary treatment of poor prognosis malignant lymphomas.