Neurofilaments are cargoes of axonal transport which are unique among known intracellular cargoes in that they are long, flexible protein polymers. These polymers are transported into axons, where they accumulate in large numbers to drive the expansion of axon caliber, which is an important determinant of axonal conduction velocity. We reported previously that neurofilaments can be lengthened by joining ends, called end-to-end annealing, and that they can be shortened by severing. Here, we show that neurofilament annealing and severing are robust and quantifiable phenomena in cultured neurons that act antagonistically to regulate neurofilament length. We show that this in turn regulates neurofilament transport and that severing is regulated by N-terminal phosphorylation of the neurofilament subunit proteins. We propose that focal destabilization of intermediate filaments by site-directed phosphorylation may be a general enzymatic mechanism for severing these cytoskeletal polymers, providing a mechanism to regulate the transport and accumulation of neurofilaments in axons.