Objective To investigate the correlation between subclinical hypothyroidism (SCH) and bone mineral density and markers of bone metabolism in postmenopausal women. Methods The clinical data were collected of 138 postmenopausal women treated in Xijing Hospital of Air Force Medical University from January 2015 to June 2018, who were divided into SCH group (n=68) and control group with normal thyroid function (n=70). The two groups were examined for some biochemical markers and bone mineral density and were compared in the indices of bone metabolism including alkaline phosphatase (ALP), Ca²⁺, calcitriol [25-(OH)D₃] and bone mineral density T value (T<-1.0 stands for abnormal bone mineral density), and thyroid function related indices including parathormone (PTH), thyroid stimulating hormone (TSH), free triiodothyronine (FT3), thyroxine (FT4) and positive rate of thyroid peroxidase antibody (TPOAb⁺). SPSS statistics 18.0 was used for data analysis. Results The abnormal rates of bone mineral density in SCH group and control group were 50.0%(34/68) and 25.7%(18/70), with significant difference between the two groups (P=0.003). Compared with the control group, TSH level and TPOAb⁺ ratio in SCH group increased significantly (P<0.05), but there were no significant differences in FT3, FT4, PTH and bone metabolism related indices (P>0.05). Spearman correlation analysis showed that TSH and TPOAb⁺ ratio were negatively correlated with ALP, 25-(OH)D₃ and T values, and TSH was highly negatively correlated with T values (r=-0.804, P<0.01). Conclusion SCH may cause abnormal bone mass and decrease of bone mineral density in postmenopausal women, which is probably related to the increased serum TSH level and the positive TPOAb.