Although bovine -lactoglobulin assumes a monomeric native structure at pH 3 in the absence of salt, the addition of salts stabilizes the dimer. Thermodynamics of the monomer-dimer equilibrium dependent on the salt concentration were studied by sedimentation equilibrium. The addition of NaCl, KCl, or guanidine hydrochloride below 1 M stabilized the dimer in a similar manner. On the other hand, NaClO 4 was more effective than other salts by about 20-fold, suggesting that anion binding is responsible for the salt-induced dimer formation, as observed for acid-unfolded proteins. The addition of guanidine hydrochloride at 5 M dissociated the dimer into monomers because of the denaturation of protein structure. In the presence of either NaCl or NaClO 4 , the dimerization constant decreased with an increase in temperature, indicating that the enthalpy change (⌬H D ) of dimer formation is negative. The heat effect of the dimer formation was directly measured with an isothermal titration calorimeter by titrating the monomeric -lactoglobulin at pH 3.0 with NaClO 4 . The net heat effects after subtraction of the heat of salt dilution, corresponding to ⌬H D , were negative, and were consistent with those obtained by the sedimentation equilibrium. From the dependence of dimerization constant on temperature measured by sedimentation equilibrium, we estimated the ⌬H D value at 20°C and the heat capacity change (⌬C p ) of dimer formation. In both NaCl and NaClO 4 , the obtained ⌬C p value was negative, indicating the dominant role of burial of the hydrophobic surfaces upon dimer formation. The observed ⌬C p values were consistent with the calculated value from the X-ray dimeric structure using a method of accessible surface area. These results indicated that monomer-dimer equilibrium of -lactoglobulin at pH 3 is determined by a subtle balance of hydrophobic and electrostatic effects, which are modulated by the addition of salts or by changes in temperature.