The aim of this study was to investigate the maximal oxygen uptake (VO_2MAX) determined using the incremental phase of the lactate minimum test (LM) on a cycle ergometer. Fifteen trained men were submitted to a graded exercise test (GXT) to evaluate the VO_2MAX and LM. The total durations of the GXT and LM were 11.2±1.8 minutes (CI95%:10.2-12.3 minutes) and 25.3±3.2 minutes (CI95%:23.5-27.0), respectively. For the variables measured at exhaustion in both the GXT and LM, the oxygen uptake (54.6 ± 8.1 ml·kg⁻¹·min⁻¹vs 50.0 ± 7.7 ml·kg⁻¹·min⁻¹), carbon dioxide production (66.1 ± 7.5 ml·kg⁻¹·min⁻¹ vs 50.4 ± 8.0 ml·kg⁻¹·min⁻¹), ventilation (153.9 ± 19.0 L·min⁻¹ vs 129.9 ± 22.9 L·min⁻¹), respiratory exchange ratio (1.22 ± 0.10 vs1.01 ± 0.05), maximal power output achieved (331.6 ± 45.8 W vs 242.4 ± 41.0 W), heart rate (183.1 ± 6.9 bpm vs175.9 ± 10.6 bpm) and lactate (10.5 ± 2.3 mmol·L⁻¹ vs 6.6 ± 2.2 mmol·L⁻¹) were statistically lower in the LM (p < 0.05). However, the values of rating of perceived exertion (17.6 ± 2.5 for GXT and 17.2 ± 2.3 for LM) did not differ (ES = 0.12 and CV = 7.8%). There was no good agreement between the values of the VO_2MAX from the GXT and VO_2PEAK from the LM, as evidenced in the Bland-Altman plot (4.7 ml·kg⁻¹·min⁻¹ and 0.34 L·min⁻¹ of mean differences, respectively), as well as the high values of the upper and lower limits of agreement. We conclude that the VO_2PEAK values obtained in the incremental phase of the LM underestimate the VO_2MAX.

• The VO_2MAX is not attained during the incremental phase of the lactate minimum test;

• The physiological responses at exhaustion during LM are not similar to physiological responses measured during GXT;

• There is a weak agreement between the peak VO_2MAX measured at exhaustion during LM and the VO₂ measured during GXT.