We study the number c (N) n of n-step self-avoiding walks on the N-dimensional hypercube, and identify an N-dependent connective constant 𝜇 N and amplitude A N such that c (N) n is O(𝜇 n N ) for all n and N, and is asymptotically A N 𝜇 n N as long as n ≤ 2 pN for any fixed p < 1 2 . We refer to the regime n ≪ 2 N∕2 as the dilute phase. We discuss conjectures concerning different behaviors of c (N) n when n reaches and exceeds 2 N∕2 , corresponding to a critical window and a dense phase. In addition, we prove that the connective constant has an asymptotic expansion to all orders in N −1 , with integer coefficients, and we compute the first five coefficientsThe proofs are based on generating function and Tauberian methods implemented via the lace expansion, for which an introductory account is provided.