Several recent studies have shown that respiration modulates oscillatory neuronal activity in the neocortex and hippocampus on a cycle-by-cycle basis. It was suggested that this respiratory influence on neuronal activity affects cognitive functions, including memory. Sharp-wave ripples (SWRs) are high-frequency local field potential activity patterns characteristic for the hippocampus and implicated in memory consolidation and recall. Here we show that the timing of SWR events is modulated by the respiratory cycle, with a significantly increased probability of SWRs during the early expiration phase. This influence of respiration on SWR occurrence was eliminated when olfactory bulb activity was inhibited. Our findings represent a possible neuronal mechanism for a direct influence of the respiratory cycle on memory function.