Boldenone can be converted to estrogen but less so than testosterone, in addition, boldenone is metabolized to 1,4 dienedione which is a potent aromatase inhibitor. Boldenone is converted by 5-alpha reductase to 1-testosterone, a more potent steroid as well as to the 5-beta isomer which is thought to be an inactive metabolite. Binding to SHBG is much lower with boldenone than with testosterone meaning a larger free plasma concentration but a shorter half-life in plasma. There is little to no binding to progesterone or glucocorticoid receptors and no real data on the interaction of boldenone with the different enzyme systems.

Boldenone acts similar to methandrostenolone with less adverse androgenic effects. It has a very long half-life, and can show up on a steroid test for up to 5 months, due to the long undecylenate ester attached to the parent steroid. Trace amounts of the drug can easily be detected for months after discontinued use.

Although commonly compared to nandrolone, boldenone lacks progesterone receptor interaction and all the associated progestogenic side effects.