The septo-hippocampal pathway is one of the best characterized cholinergic pathways of the mammalian central nervous system. It is very likely that this pathway is involved in the pathophysiology of dementia of the Alzheimer's type and perhaps of normal aging also. The properties of the septo-hippocampal neurons identified by their antidromic response to the electrical stimulation of the fimbria-fornix were altered in aged (27 months) rats as compared to young (2-3 months) controls: their pattern of spontaneous activity (including the frequency of occurrence of a rhythmically bursting activity) and their axonal conduction velocity were altered. The intensity of these changes was dependent on the presence of pituitary tumor which developed spontaneously in about 1/3 of the animals. These results provide direct evidence of the involvement of septo-hippocampal neurons in the aging process.