A new group of modulatory substances present in both endocrine cells and central and peripheral nerves has been described in the past few years. These substances are biochemically recognized as peptides and their actions affect many bodily functions. They are now widely known as regulatory peptides. The development of new immunocytochemical techniques, closely allied to radioimmunoassay, has disclosed that the regulatory peptides are present either in cells or in nerves, in almost every tissue of the body. The presence of peptides (the classical hormones) in endocrine cells was already known at the beginning of the century, but the presence of similar substances in nerve fibers, where they probably act as neurotransmitters, is a recent and revolutionary discovery. More than 30 peptides (neuropeptides) have been found to be present in nerves, to which the term "peptidergic" has been applied, although it is now known that in certain cases a neuropeptide can be present in the same nerves as a classical neurotransmitter, for example acetylcholine with VIP, or noradrenaline with NPY. Little is known about the physiological role of these neuropeptides. It is not yet fully accepted that they act as neurotransmitters although there is strong evidence for this, particularly in the case of substance P and VIP. The investigation of the regulatory peptides is now in an initial phase. The involvement of new disciplines, such as molecular biology, in this field is producing new and very exciting discoveries, including the isolation of novel peptides and precursors, the study of which will further contribute to the understanding of the basic control mechanisms.