Two studies address the role of hormonal shift across menstrual cycle in female dehumanization of other women. In Study 1, normally ovulating women (NOW) and women who use hormonal contraceptives (HCW) are compared in terms of how much they dehumanize other women and two other control targets (men and elderly people). In NOW, the level of dehumanization of other women, but not of men and elderly people, increases as the conception risk is enhanced. HCW do not show this pattern of results. In Study 2, we investigate the level of dehumanization of other women and of intra-sexual competition. Findings concerning dehumanization replicate those of Study 1. Intra-sexual competition increases with the rise of conception risk only in NOW. In addition, dehumanization is significantly associated with intra-sexual competition in NOW but not in HCW. Together, these studies demonstrate that dehumanization of women is elicited by menstrual cycle–related processes and associated with women’s mate-attraction goals.