Oxygen tension of thoracic duct lymph was measured continuously in dogs subjected to hemorrhagic shock. Compared to untreated controls, the group given during the development of the shock a single large dose of a potent glucocorticoid type steroid showed a higher lymph pO2 during oligemia and a longer period of compensation. Lymph oxygen tension was higher even after reinfusion of the blood. The results suggest that previously reported increases in blood flow in the splanchnic and renal circulations after corticosteroid administration in shock are associated with corresponding oxygen tension changes in these organs.