Kerzhenskiy State Nature Reserve is situated in the middle reach of Kerzhenets River(the left tributary of Volga River). Its territory covers 469 sq. km. Elevations are ranging from 140.5 m in the north part up to 76.3 m in south-west. Annotated list of hepatics includes 54 species. Among them are Schistochilopsis capitata (Hook.) Konstantinova, a species new for Russia and Frullania bolanderi Austin rare species in Europe. Comparison with hepatic floras of some nature reserves of Central Europen Russia is given, and ecology and phytogeography of species are discussed.