Diabetic dyslipidemia, defined as atherogenic dyslipidemia, is thought to be highly responsible for the increased cardiovascular complications in diabetes mellitus. It is due to hyperglycemia and dysregulation in fatty acid metabolism. Recently, we have reported the antidiabetic and antioxidant properties of a novel vanadium-3-hydroxy flavone complex in streptozotocin-induced diabetic rats. In the present study, diabetic rats were treated with vanadium-3-hydroxy flavone complex (5mg/kg body weight/day) for a period of 30days and the status of the lipid profile in the serum, liver and kidney was evaluated. The increased levels of lipid contents in serum and tissues observed in diabetic rats were reinstated to near normal levels by the administration of the vanadium-3-hydroxy flavone complex. Also the decreased levels of HDL-cholesterol and increased levels of LDL- and VLDL-cholesterol in serum of diabetic rats were normalized upon treatment with the complex. The results of the present study illustrate the antidyslipidemic property of the vanadium-3-hydroxy flavone complex. The observed antidyslipidemic property of the complex might be due to its insulin mimetic nature.