A retrospective study of 724 patients after first orthotopic cadaveric liver transplantation (2004–2019) at the Medical University of Vienna investigated the relationship between perioperative hemoglobin concentrations and acute kidney injury (AKI). Preoperative hemoglobin concentrations were 10.9 (± 2.1) g/dL in patients with AKI and 11.5 (± 2.1) g/dL in patients without AKI. Higher preoperative hemoglobin concentrations were associated with lower odds of AKI (OR 0.847; P < 0.001) and lower stage of AKI (OR 0.895; P = 0.002). Stage 3 AKI increased 1-year mortality (OR 1.909; P < 0.001) and overall mortality (HR 1.420; P = 0.037). Higher nadir hemoglobin concentrations within 48 hours after surgery were associated with lower odds of AKI (OR 0.806; P = 0.033) and lower stage of AKI (OR 0.782; P < 0.001). Higher perioperative hemoglobin concentrations reduced the risk of AKI after liver transplantation. Severe AKI increased mortality.