Heart-lung interactions during positive-pressure ventilation are characterized by an extreme sensibility to the patient's intravascular volume status. Indeed, a fall in cardiac output due to decreased ventricular preload can be observed when initiating positive-pressure ventilation. This phenomenon is due to the close anatomic-functional association between heart and lungs, and to the fact that pulmonary volume and intrathoracic pressure variations cyclically modify heart-lung interactions. The present review address the questions of the physiological and physiopathological effects of positive-pressure ventilation on the right and left venous returns, and on pulmonary and systemic vascular resistances.