Anemia is frequent in HF patients. Little is known on how to manage HF prognostic parameters in anemic HF patients. Cardiopulmonary exercise evaluation can be safely performed in anemic HF patients. Cardiopulmonary exercise provides prognostic information in anemic HF patients. However VE/VCO2 slope loses its prognostic power in patients with Hb < 11.0 g/dL.