Objective of the study was to assess effect of iron therapy on serum hepcidin levels in iron deficient pregnant women and its correlation with hemoglobin, serum iron profile and C-reactive protein (CRP). A total of 100 pregnant women were enrolled in the study; 25 were included in the “control group” having normal hematological and biochemical parameters while 75 iron deficient pregnant women were enrolled in the “patient group” with low hematological and biochemical parameters. CRP was done to rule out inflammation and to observe its association with hepcidin. Intravenous iron was administered to the patient group. Post treatment CBC, serum iron, serum ferritin and serum hepcidin were determined. Difference between pre and post treatment hemoglobin, serum iron, serum ferritin and serum hepcidin levels were determined and correlation among them was calculated. Post treatment serum hepcidin levels were significantly higher than pretreatment level (p = 0.001). However, no correlation was seen between serum hepcidin, serum iron, serum ferritin and hemoglobin. Hepcidin levels remain low during pregnancy as there is increased demand for iron in pregnancy. Iron supplementation results in increased hepcidin levels; however no mathematical correlation was found between serum hepcidin level and serum iron profile.