The invention relates to the use of erythropoietin for stimulation of the physiological mobilisation, proliferation and differentiation of endothelial precursor cells, for stimulation of vasculogenesis, for the treatment of diseases related to a dysfunction of endothelial precursor cells and for the production of pharmaceutical compositions for the treatment of such diseases and pharmaceutical compositions comprising erythropoietin and other agents suitable for stimulation of endothelial precursor cells.