Rapid lymphocyte recovery after bone marrow or peripheral blood transplantation is associated with improved survival. However, the impact of early lymphocyte recovery has not been examined after umbilical cord blood transplant (UCBT). We evaluated lymphocyte recovery in 360 consecutive patients with hematologic malignancy that underwent UCBT between 2001 and 2007. Uniform myeloablative (MA), reduced intensity conditioning (RIC) and graft vs. host disease prophylaxis regimens were used. In multivariate analysis, an ALC >200 ×106/L at day 30 (n=73) after MA conditioning was associated with superior 2-year overall survival (OS) (73% vs. 61%; p=0.02) [RR: 2.29; 95% CI: 1.15 – 4.56], progression-free survival (PFS) (68% vs. 54%; p=0.05) [RR: 1.96; 95% CI: 0.99 – 3.86] and less transplant related mortality (TRM) (8% vs. 28%, p<0.01) [RR: 4.38; 95% CI: 1.65 – 11.60] compared to ≤200×106/L (n=43). Similarly, an ALC >200 ×106/L at day 42 (n=105) after RIC was associated with superior 2-year OS (59% vs. 41%, p<0.01) [RR: 2.10; 95% CI: 1.3 – 3.41] and PFS (46% vs. 36%, p=0.05) [RR: 1.58; 95% CI: 1.01 – 2.49] compared to ≤200 ×106/L (n=55). There was no significant relationship between ALC and relapse. Rapid lymphocyte recovery early after UCBT predicts better survival in patients with hematologic malignancies.