This study was designed to evaluate the influence of hemorrhagic shock on hepatic regeneration in rats submitted to partial hepatectomy. The experimental protocol included 26 male Wistar rats, randomly assigned to 4 groups: GI: simulated operation; GII: 30% hepatectomy without hemorrhagic shock; GIII: only hemorrhagic shock; GIV: 30% hepatectomy associated with hemorrhagic shock. The methodologies used were: determination of aminotranspherases plasma levels; analysis of mitochondrial respiration, membrane potential and osmotic swelling; and markers of hepatocellular replication. Aminotranspherases increased only in GIV. There were no differences in mitochondrial respiration. Mitochondrial membrane potential decreased only in the GIV. There were no differences in mitochondrial swelling among the groups; cellular replication markers increased significantly in the Groups II and IV but without difference between these two groups. Despite the conditions imposed on the organism by hemorrhagic shock, the hepatic regenerative capacity is preserved in animals submitted to partial hepatectomy.