Heart rate variability (HRV) is a valuable noninvasive tool of assessing the state of cardiovascular autonomic function. The interest in heart rate monitoring without electrodes led to the rise of alternative heart beat monitoring methods, such as gyrocardiography (GCG). The purpose of this study was to compare HRV indices calculated on GCG and ECG signals. The study on time domain and and frequency domain heart rate variability analysis was conducted on electrocardiograms and gyrocardiograms registered on 29 healthy male volunteers. ECG signals were used as a reference and the HRV analysis was performed using PhysioNet Cardiovascular Signal Toolbox. The results of HRV analysis show great similarity and strong linear correlation of HRV indices calculated from ECG and GCG indicate the feasibility and reliability of HRV analysis based on gyrocardiograms.