Metabolism of thyroid hormones and iron is quite inter-dependent. Deficiency of iron can produce hypothyroidism and vice versa. This fact is important, especially during administration of treatment of hypothyroidism. Therefore, in this study, 50 newly diagnosed hypothyroid patients were investigated for levels of iron; ferritin and total iron binding capacity (TIBC) and compared with 50 age and sex matched healthy controls. The levels of iron and ferritin were found to be significantly decreased while the levels of TIBC were observed to be significantly increased in patients as compared to controls. Thyroid hormone insufficiency may lead to deficiency of iron and vice versa. Other factors like oxidative stress may also play a role. Thus, estimation of iron and related parameters may be quite useful during the diagnosis and treatment of hypothyroid patients.