Hormones in the brain have many types of visceral influences on social behavior and economic decision-making. Although hormone-associated visceral effects attract attention in neuroeconomics, little is known regarding the relationship between sex hormones and hyperbolic discounting. Furthermore, although the "discount factor" (a parameter indicating patience in intertemporal choice) is economically relevant and has neural correlates, most neuroeconomic studies on intertemporal choice have been focusing on neuromodulation of logged discount rates, which sometimes results in difficulty in interpretation. This study was aimed to examine linear correlations between chronic sex hormone levels and hyperbolic discount factors of gains and losses in healthy male students. Participants' salivary sex hormone (testosterone) levels were also assessed. We observed a positive linear relationship between testosterone levels and hyperbolic discount factor of gains; while no linear relationship between testosterone levels and discount factor of losses was observed. The results indicate that (i) chronic elevation in testosterone may be associated with patience (indicated by a discount factor) in intertemporal choice on gains, (ii) testosterone is unrelated to discounting of delayed losses. Implications for sex hormone-related visceral effects on problematic decision-making (e.g. addiction) and possible neuroendocrinological mechanism (e.g. conversion of testosterone into female hormones in the brain) are discussed. © 2008 Association for NeuroPsychoEconomics.