The present invention relates to a stabilized composition of erythropoietin comprising: Erythropoietin - 1000 to 40,000 IU, Mannito1 - 25 mg/ml, NaH2P04 - 1.4 mg/ml, Na2HP04 - 4.0 mg/ml, HSA - 2.5 mg/ml wherein the said composition may optionally be provided with tonicity agents or stabilizing agents.