The magnetic excitations in a single crystal of dhcp Pr have been studied by inelastic neutron scattering. The excitations on the hexagonal sites, and their dependence on magnetic fields up to 43 kOe applied in the basal plane, have been analyzed in terms of a Hamiltonian in which exchange, crystal-field, and magnetoelastic interactions are included. The exchange is found to be strongly anisotropic, and this anisotropy is manifested directly in a splitting of most branches of the dispersion relations. By considering a variety of magnetic properties, we have been able to determine the crystal-field level scheme for the hexagonal sites fairly unambiguously. The first excited level is 3.5 meV above the ground state. The value of the magnetoelastic coupling deduced from the excitations is in good agreement with values obtained from other measurements. A field-dependent interaction with the phonons has been observed, and a pronounced broadening of the acoustic excitations of long wavelength is ascribed to the influence of the conduction electrons. The first excited state on the cubic ions is about 8.3 meV above the ground state. The corresponding excitations show a pronounced dispersion, but the exchange anisotropy is of less importance than for the hexagonal sites.