Intensive deforestation and forest fragmentation of the Brazilian forest biomes has contributed to increase the number of trees species under the risk of extinction. Peltophorum dubium (Sprengel) Taubert is one of these species. Some of its populations are being conserved ex situ by the Instituto Florestal de São Paulo through provenance and progeny tests. The aim of this study was to investigate the genetic variation and to estimate genetic parameters at age 24 years in a progeny test of P. dubium established in Luiz Antônio, São Paulo State, Brazil. The trial was established in a random block design, with six replications, five plants per plot and 18 open-pollinated progenies. Measured were: diameter at breast height (DBH), height and stem form. The genetic parameters heritability, genetic variation and effective population size were estimated. Significant genetic differences were observed only for DBH. This trait also presented a high coefficient of genetic variation (CV g=4.8%) and heritability, especially among progeny means (h m 2=0.6607). This indicates that DBH is the most indicated trait for selection in the population. The effective population size conserved ex situ in the test was estimated to be 38.9. Concerning genetic conservation, although the effective population size in the test is small, the values of the genetic variation and of the heritability indicate that the ex situ population has sufficient genetic variation and potential to respond to changes promoted by natural and artificial selection.