Placental size may be influenced by maternal factors, placental function as well as the fetal condition. So far, no studies have examined how the fetal oxygen-carrying capacity or haemoglobin/haematocrit levels would affect placental growth in normal human pregnancies. The aim of this study was to investigate the relationships between placental size and fetal arterial cord blood haemoglobin and haematocrit levels at the time of caesarean delivery. Umbilical arterial cord blood was taken for arterial haemoglobin and haematocrit levels immediately after delivery. The relative placental size (defined by the ratio of placental weight to fetal weight) was inversely correlated with both arterial haemoglobin (r = -0.455, p = 0.001) and haematocrit levels (r = -0.425, p = 0.003) in women who had undergone elective caesarean sections. No significant correlation was found between the relative placental size with other maternal and fetal factors.