Hemoglobin level variability is common in hemodialysis patients with chronic kidney disease. The main objective of the study was to assess the influence of combination therapy (erythropoietin + iron preparations) and monotherapy (erythropoietin) on hemoglobin levels in patients with CKD on maintenance hemodialysis. The study was conducted in 150 patients (102 (68%) males and 48 (32%) females; mean age 51 ±13.8 years) undergoing once/twice/thrice weekly maintenance hemodialysis and were prescribed with combination therapy of erythropoietin + iron preparations and monotherapy of erythropoietin. Hemoglobin levels were estimated once every month prior to hemodialysis session for a period of 5 months. Patients were regularly monitored for side effects. There were significant increases in the serum hemoglobin levels (8.5 ± 2.1 at 1st month to 9.1 ± 1.6 at 5th month) on treatment with combination therapy (p < 0.05). Combination therapy is effective than monotherapy in maintaining the hemoglobin levels (variability) in chronic kidney disease patients on maintenance hemodialysis.