Disclosed is the use of a lipid based resuscitation fluid comprising a lipid component and an aqueous carrier, wherein said lipid component forms an emulsion with said aqueous carrier in the form of lipid micelles with a polar outer surface and an inner hydrophobic space, in the manufacture of a medicament for use in a method for treating hemorrhagic shock in a human or animal subject, the method comprising administering to said subject an effective amount of the lipid based resuscitation fluid. Further disclosed is a lipid based resuscitation fluid for use in the treatment of hemorrhagic shock in a human or animal subject, comprising an oxygenated lipid emulsion and a buffering agent comprising histidine. Also disclosed is a resuscitation kit for use in the treatment of hemorrhagic shock comprising a lipid emulsion based resuscitation fluid comprising a lipid component and an aqueous carrier and an oxygenation device to oxygenate said resuscitation fluid prior to use.