The maximal oxygen uptake (VO2max) estimation has been a subject of research for many years. Cardiorespiratory measurements during incremental tests until exhaustion are considered the golden yard stick to assess VO2max. However, precise VO2max determination based on submaximal tests is attractive for athlete as well for clinical populations. Here, we propose and verify such a method based on experimental data. Using a recently developed model of heart rate (HR) and VO2kinetics in graded exercise tests, we applied a protocol, which is terminated at 80% of the estimated maximal HR during ergometer cycling. In our approach, initially, formula for maximal HR is selected by retrospective study of a reference population (17 males, 23.5 ± 2.0 years, BMI: 23.9 ± 3.2 kg/m2). Next, the subjects for experimental group were invited (nine subjects of both sexes: 25.1 ± 2.1 years, BMI 23.2 ± 2.2 kg/m2). After calculation of maximal HR using cardiorespiratory recordings from the submaximal test, VO2max is predicted. Finally, we compared the prediction with the values from the maximal exercise test. The differences were quantified by relative errors, which vary from 1.2% up to 13.4%. Some future improvements for the procedure of VO2max prediction are discussed. The experimental protocol may be useful for application in rehabilitation assessment and in certain training monitoring settings, since physical exertion is not a prerequisite and the approach provides an acceptable VO2max estimation accuracy.