Background: Recent evidence suggests that oxidative stress may be an instigator of the metabolic syndrome, and adiponectin, an adipocyte-derived polypeptide, may modulate oxidative stress, ameliorating the atherosclerotic process. Aim: Oxidative stress is increased in hemodialysis (HD) patients. We hypothesize that a relationship between plasma levels of adiponectin and markers of inflammation and oxidative stress exists. Methods and Results: In 124 HD patients, plasma adiponectin levels and three separate oxidative stress markers, tumor necrosis factor-α as well as high-sensitivity C-reactive protein ( hsCRP) were determined. Plasma adiponectin was significantly and negatively correlated with serum hsCRP (r = –0.247, p = 0.008) and plasma malondialdehyde (MDA) levels (r = –0.326; p < 0.001). Multiple regression analyses suggested that plasma MDA, serum HDL cholesterol levels and logarithmically transformed hsCRP were the variables independently associated with plasma adiponectin levels. Conclusion: Plasma adiponectin was significantly associated with plasma MDA, serum HDL cholesterol levels and serum hsCRP levels. Our results suggest the possibility that plasma adiponectin may play a role in alleviating oxidative stress in HD patients.