The effects of inorganic mercury on hematological parameters and hepatic oxidative stress enzyme activity were studied in olive flounder Paralichthys olivaceus. Fish were injected twice intraperitoneally with mercuric chloride (2, 4, or 8 mg Hg/kg BW). The major hematological findings were significant decreases in the red blood cell count, hematocrit value, and hemoglobin level in olive flounder exposed to 8 mg Hg/kg BW. Remarkably low levels of calcium and chloride, and reduced osmolality, were also observed at 8 mg Hg/kg BW. In hepatic tissue, significant increases in glutathione peroxidase and catalase activity were observed above 4 mg Hg/kg BW Inorganic mercury also increased glutathione S-transferase and glutathione reductase activity at 8 mg Hg/kg BW in hepatic tissue. The present findings suggest that exposure to a low concentration (${geq}4$ mg Hg/kg BW) of inorganic mercury can cause significant changes in hematological and antioxidant parameters.