The inositol (1,4,5)-trisphosphate receptors (InsP(3)R) are the intracellular calcium (Ca2+) release channels that play a key role in Ca2+ signaling in cells. Three InsP(3)R isofonns-InsP(3)R type 1 (InsP(3)R1), InsP(3)R type 2 (InsP(3)R2), and InsP(3)R type 3 (InsP(3)R3) are expressed in mammals. A single InsP(3)R isoform is expressed in Drosophila melanogaster (DmInsP(3)R) and Caenorhabditis elegans (CeInsP(3)R). The progress made during last decade towards understanding the function and the properties of the InsP(3)R is briefly reviewed in this chapter. The main emphasis is on studies that revealed structural determinants responsible for the ligand recognition by the InsP(3)R, ion permeability of the InsP(3)R,modulation of the InsP(3)R by cytosolic Ca2+, ATP and PKA phosphorylation and on the recently identified InsP(3)R-binding partners. The main focus is on the InsP(3)R1, but the recent information about properties of other InsP(3)R isoforms is also discussed. (C) 2005 Elsevier Ltd. All rights reserved.