This study was performed to investigate the relationship between concentration changes of metabolites and estrogen, progesterone, insulin and insulin-like growth factor-1 hormones with ovarian follicular cyst formation in dairy Holstein cows. For this purpose, blood samples of 20 dairy cows (10 healthy and 10 suspicious cows to having ovarian follicular cyst) were collected before slaughtering. After slaughtering, ovarian follicular fluid of healthy and cystic follicles were aspirated. The blood and follicular fluid concentrations of glucose, urea, triglyceride, and total cholesterol and also the amounts of estrogen, progesterone, insulin and insulin-like growth factor-1 were determined, using related commercial kites. This study showed that unlike of follicular fluids, the amounts of metabolites were similar in blood serum of healthy and suspicious cows. Glucose concentration was around 148.15 percent higher in cystic follicular fluid than large healthy follicle (P<0.05). The amount of triglyceride in cystic follicle fluid was 142.12 percent greater than healthy follicular fluid (P<0.05). The amounts of urea and total cholesterol did not differ between cystic and health follicular fluids. Estrogen, progesterone, insulin and insulin-like growth factor-1 concentrations did not differ significantly between blood serum of cystic and healthy cows. In comparison between estrogen and progesterone concentrations of follicular fluids, the levels of estrogen around 141.83 percent and progesterone around 241.44 percent were greater in healthy follicular fluid and cystic, respectively (P<0.05). Although, the amounts of insulin and insulin-like growth factor-1 did not differ statistically between healthy and cystic follicular fluids, the levels of insulin were 184.62 percent greater in healthy follicular fluid than cystic follicular fluid. Pierson’s correlation coefficients between estrogen and glucose, total cholesterol, progesterone, insulin and insulin-like growth factor-1 were positive, while these coefficients between estrogen with urea and triglyceride were negative. In addition, correlation coefficients between blood serum estrogen with triglyceride, total cholesterol, insulin-like growth factor-1 and progesterone were positive, but with glucose, urea and insulin were negative. In general, this study showed that the follicle fate is mainly dependent on the follicular fluid compositions, in particular glucose and triglyceride.