A new method for preservation of blood in liquid nitrogen is presented. Red blood cell concentrates treated with a small volume of a cryoprotective glycerol solution are frozen in liquid nitrogen. A blood freezing bag with a rational design suitable to blood bank routines was developed. Postthaw deglycerolization can be performed by centrifugation as well as agglomeration. The processed red blood cells are equivalent to those of fresh ACD blood with regards to ATP and 2,3‐DPG levels and posttransfusion surviva