Iron is a trace element which is required in many biological processes. Despite its important role, iron deficiency is one of the most common nutritional deficiencies in general population and in athletes. Female athletes, especially those practising endurance sports, are at an increased risk of developing iron deficiency and its further progression to iron deficiency anemia. Before the theme of this paper is examined, the role and the methabolism of iron in the body is explained. Since the efficacy of iron absorption is crucial in maintaining iron homeostasis, the characteristics of two forms of dietary iron and a whole series of food ingredients that act as promoters or inhibitors of the absorption are mentioned. Furthermore, the gradual progression of iron deficiency is mentioned in detail with laboratory indicators necessary for the diagnosis. The primary goal of this paper is to present the mechanisms that affect the iron status in female athletes. Increased iron losses in athletes involved in intense exercise are the result of gastrointestinal bleeding, sweating, hemolysis and hematuria. Moreover, menstrual bleeding presents additional iron loss which may be higher than average in female athletes. Insufficient daily intake of iron has also been observed in most female athletes. A review of recent studies explains the mechanism of exercise leading to an increase in IL-6 which as a consequence increases hepcidin synthesis and thus changes iron methabolism. Additionally, it is discussed how iron deficiency and iron deficiency anemia affect athletic performace. Finally, in the last part of this paper, deficiency treatment procedures are described. The most widespread treatment method involves oral iron supplements prescribed by a doctor who determines the dose and the duration of treatment.