The present invention provides an improved kit for the collection of umbilical cord blood and placental blood, and collection of the placenta from which such blood is obtained. The kit improves upon existing kits in that it provides for improved user convenience, provides for the collection of the placenta itself, and better maintains the internal temperature of the container in which the collected blood and placenta are shipped to a blood bank or registry. The invention further provides a method of collecting umbilical cord and placental blood, and the placenta from which such blood is obtained, comprising using the kit described herein.