Methods and system are provided for monitoring a patients venous blood oxygen saturation (SvO2). At least one signal indicative of electrical activity of a patient's heart is obtained. Such a signal can be, e.g., an IEGM or ECG signal. In specific embodiments, such a signal(s) can be obtained from implanted electrodes, and thus, embodiments of the present invention can be implemented by an implantable system. Additionally, there are measurements of at least one metric of cardiac cycles represented in the at least one signal indicative of electrical activity of the patient's heart, where the metric changes with changes in SvO2. Examples of such metric include T-wave metrics and PR intervals. SvO2, and changes therein, are monitored based on the measured metric(s).