Whereas development of mathematical models describing the endocrine system as a whole remains a challenging problem, visible progress has been demonstrated in modeling its subsystems, or axes. Models of hormonal axes portray only the most essential interactions between the hormones and can be described by low-order systems of differential equations. This paper analyzes the properties of a novel model of a hypothalamic-pituitary axis, portraying the interactions in a chain of a release hormone (secreted by the hypothalamus), a tropic hormone (produced by the pituitary gland) and an effector hormone (secreted by a target gland). This model, unlike previously published ones, captures two prominent features of neurohormonal regulation systems, namely, the pulsatile (episodic) production of the release hormone and a complex non-cyclic feedback mechanism that maintains the involved hormone concentrations within certain biological limits. At the same time, the discussed model is analytically tractable; in particular, the existence of a so-called 1-cycle featured by a single pulse over one period is proven mathematically.