In 4 experiments, the role of cholecystokinin (CCK) in the motivational control of instrumental performance in rats was assessed. Following instrumental training with food rewards, injections of CCK (either 2 micrograms/kg or 4 micrograms/kg) had no effect on instrumental performance in extinction, even when the opportunity was given to learn about the incentive value of the food outcome under CCK. These results contrasted markedly with the effects of shifts in food deprivation. Rewarded instrumental performance was, however, reduced by both doses of CCK, suggesting that CCK may mediate deprivation-related shifts in incentive value. Tests of this hypothesis found that the alimentary CCK antagonist devazepide (MK329) attenuated the devaluation of a food outcome produced by exposure to the outcome in a nondeprived state. These data are interpreted as suggesting that CCK may act as a satiety-specific incentive signal.