New oral contraceptives (OC) with lower estrogen contents are potentially useful for menopausal replacement. An OC with 20 μg ethinyl estradiol and 150 μg desogestrel was used for this purpose in perimenopausal women with climacteric syndrome. The treated group (N = 30), was given OC for 6 months. The control group (N = 29) was kept under observation. Serum FSH, luteinizing hormone, estradiol, cholesterol, HDL-cholesterol and triglycerides were measured. OC treatment induced prompt and clear relief of the climacteric syndrome. Endogenous serum estradiol was greatly reduced with treatment. Serum cholesterol, initially high in relation to young women, diminished with OC treatment, while HDL-cholesterol increased, significantly reducing the cholesterol/HDL-cholesterol ratio. This possibly beneficial estrogen effect was apparently not counteracted by desogestrel (a nearly non-androgenic progestogen). The initially high triglycerides were not modified by the OC. Cyclical bleeding was induce