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One might think that after over 100 years of study we now know all there is to know about Hemoglobin and its function. However, the purpose of this review is to outline that this fascinating protein has still much to say in the field of biological modulation. Hence, we like to focus on a number of parallel functions of hemoglobin besides its basic function of oxygen transport. Among these we like to recall the following main functions: a) modulation of erythrocyte metabolism; b) Heme oxidation and erythrocytes senescence; c) resistance to malaria; d) molecular heat transducer e) Enzymatic activity; f) Hemorphins, carbon monoxide and nitric oxide.