By the single crystal inelastic neutron scattering the orthoferrite HoFeO3 was studied. We show that the spin dynamics of the Fe subsystem does not change through the spin-reorientation transitions. The observed spectrum of magnetic excitations was analyzed in the frames of linear spin-wave theory. Within this approach the antiferromagnetic exchange interactions of nearest neighbors and next nearest neighbors were obtained for Fe subsystem. Parameters of Dzyaloshinskii-Moriya interactions at Fe subsystem were refined. The temperature dependence of the gap in Fe spin-wave spectrum indicates the temperature evolution of the anisotropy parameters. The estimations for the values of Fe-Ho and Ho-Ho exchange interaction were made as well.