The effects of nanodispersed iron forms on the morphology and function of the blood system were studied. Maghemite and lepidocrocite caused a leukocytic shift towards segmented neutrophil forms, reduction of lymphocyte rigidity, and stimulated their compactization. In addition, the counts of small hyperchromatic erythrocytes with high rigidity increased in the blood flow. The results indicated that a single dose of nanodispersed iron-containing drugs improved the blood respiratory function and its microrheology.