The catalytic activity of ribonucleic acid is reviewed, with the intervening sequence (IVS) of the ribosomal RNA precursor of Tetrahymena serving as a major example. The IVS catalyzes its own excision from the precursor RNA and at the same time ligation of the flanking sequences, a reaction termed self-splicing. The excised IVS RNA can act as an enzyme to catalyze sequence-specific cleavage and ligation reactions on substrate RNA molecules. The RNA polymerization activity of the IVS supports the possibility that RNA catalysis could have been important in establishing a prebiotic self-replicating system. Other systems in which RNA catalysis has been found include related group I IVSs, group II IVSs, ribonuclease P, and certain plant infectious RNAs.