The purpose of this study is to investigate the determinants of intent to leave among hospital physicians. A causal model of intent to leave among hospital physicians was constructed based on the exchange theory. The sample of this study consisted of 185 physicians from 8 general hospitals located in Seoul, Taegu, Kyunggi-province, and Kyungsangnam-province in Korea. Data were collected with self-administered questionnaires and analyzed using LISREL. The results of this study indicate that the following variables, listed in order of size, have significant negative effects on intent to leave among hospital physicians; job satisfaction, organizational commitment, task variety, promotional chances, task significance, and pay. Sex (female=0, male=1) was found to have significant positive effects on the intent to leave among hospital physicians. The results imply that hospital administrators should make an effort to improve job satisfaction and organizational commitment which are the key determinants of intent to leave among hospital physicians.