The net release of carbon to the atmosphere from deforestation in Latin America was calculated for the period 1850-1985. Changes in the area of forests were described in a companion paper. Here, the stocks of carbon in vegetation and soils of major ecosystems, and changes in these stocks of carbon as a result of disturbance, were used to calculate the net annual flux of carbon. The total net release of carbon between 1850 and 1985 was about 30 x 10(15) g (range 17-35 x 10(15) g). The land uses responsible for the emissions of carbon were increased areas of pastures (42% of the total emissions), croplands (34%), degraded lands (19%), and shifting cultivation (5%). Logging and the establishment of plantations contributed or accumulated negligible amounts of C over this 135-year period. The annual releases of C to the atmosphere increased over the period 1850-1985; half of the total release occurred after 1960. By 1985 the net release was 0.67 x 10(15) g C year-1 (range 0.39-0.82 x 10(15) g C). The relative contributions of different land uses to this flux were different from those over the long-term. The greatest single source of C in 1985 resulted from increases in the area of degraded lands (37% of the net flux), and the importance of shifting cultivation increased to almost 20%. The range of estimates calculated here for the current net flux of C is lower than earlier estimates of the range. The range results from uncertainties in the rates of land-use change, in the types of ecosystems cleared and the stocks of C in these ecosystems, and in the rates of decay and regrowth of organic matter associated with land-use change.