The paper analyses phenomenon of the exchange of emotions in human communication. It is emphasized that the exchange of emotions is one of the basic components of all kinds of human communication. It is proved that the exchange of emotions occurs at three levels: conscious level – by means of words, at extramental level – by means of nonverbal communication (looks, gestures, etc.), and at unconscious level – by means of the olfactory channel. We come out with the assumption of existence of emotionally olfactory language as the mechanism of an exchange of emotions at unconscious level. Transfer is deemed as unconscious as firstly the person does not understand the emotions transferred by means of smells, but they influence mood of the person. Secondly, the smells that contain the information on emotions are very weak, they are not perceived as aromas. Thirdly, such transfer does not occur on the level of consciousness. It is supposed that each of the basic emotions is connected with a specific base odour; when the person feels this emotion his/her physiological reactions are launched, these reactions are compatible with corresponding base odour. In turn, the base aroma which is separated from the human organism causes the same basic emotion in other people. Specific interrelations «emotion - a smell» are offered. We assert that the similar mechanism can cause such phenomena as a mass panic, etc. Complex feelings also can be made of a combination of basic emotions, and are then transferred by means of combinations of the basic smells to the interlocutor. Such phenomenon of human psyche as empathy can be based on this transfer.