An equilibrium between positive and negative regulation of immunoreceptor signaling leads to the proper execution of lymphocyte activation. Tyrosine phosphorylation is the initial event in antigen receptor-induced lymphocyte activation. It is generally accepted that protein tyrosine kinases are involved in positive regulation, whereas protein tyrosine phosphatases are important for the negative regulation of tyrosine phosphorylation-dependent processes. However, the interaction between protein tyrosine kinases and protein tyrosine phosphatases is complex. This article discusses the role of two protein tyrosine phosphatases. CD45 and SHP-1, in the regulation of immunoreceptor signaling. SHP-1 acts as a negative regulator for several immunoreceptors, including those for T- and B-cell antigen receptors. The major role of CD45 is in the positive regulation of T- and B-cell antigen receptor signaling.