To define ovarian follicular kinetics in the equine ovary during anestrus and the breeding season, the follicular population of pony mares was investigated at mid-anestrus and at the beginning and end of the breeding season. There was a clear effect of season on the exit of reserve (primordial and initiated) follicles since at the beginning of the breeding season we noticed a higher mitotic index for the smaller preantral follicles, leading to an accumulation of small and medium antral follicles. In contrast, the ovaries sampled during anestrus or at the end of the breeding season were very similar; only preovulatory development was lacking in anestrous ovaries. However, atresia was unaffected by season.