Pomegranate molasses and peels contain minerals, antioxidants and several vitamins. The aim of this study was to investigate the effect of pomegranate molasses to protect against phenylhydrazine induced anemia in rats. 40 male rats were divided into four equal groups; a control group, Pomegranate molasses treated group, Phenylhydrazine (PHZ) treated group, Pomegranate molasses + Phenylhydrazine treated group. Hematology, hemoglobin electrophoresis, G6PD, Iron, and erythropoietin were evaluated. Spleen was obtained for histopathological examination. The results revealed a significant increase in reticulocytes, osmotic fragility, iron and erythropoietin with a significant decrease in Glucose-6-Phosphate Dehydrogenase in Phenylhydrazine group, compared with Control group. Co-administration of Pomegranate molasses with Phenylhydrazine showed significant decrease in reticulocytes, osmotic fragility, iron and erythropoietin and significant increase in Glucose-6-Phosphate Dehydrogenase compared with Phenylhydrazine group. It could be concluded that pomegranate molasses could improve hematological parameters and had anti-inflammatory effect on spleen.