17b-Estradiol (E 2 ) serves as an anti-obesity steroid; however, the mechanism underlying this effect has not been fully clarified. The effect of E 2 on adipocytes opposes that of glucocorticoids, which potentiate adipogenesis and anabolic lipid metabolism. The key to the intracellular activation of glucocorticoid in adipocytes is 11b-hydroxysteroid dehydrogenase type 1 (11b-HSD1), which catalyses the production of active glucocorticoids (cortisol in humans and corticosterone in rodents) from inactive 11-keto steroids (cortisone in humans and 11-dehydrocorticosterone in rodents). Using differentiated 3T3-L1 adipocytes, we showed that E 2 inhibited 11b-HSD1 activity. Estrogen receptor (ER) antagonists, ICI-182 780 and tamoxifen, failed to reverse this inhibition. A significant inhibitory effect of E 2 on 11b-HSD1 activity was observed within 5-10 min. Furthermore, acetylation or a-epimerization of 17-hydroxy group of E 2 attenuated the inhibitory effect on 11b-HSD1. These results indicate that the inhibition of 11b-HSD1 by E 2 depends on neither an ER-dependent route, transcriptional pathway nor nonspecific fashion. Hexose-6-phosphate dehydrogenase, which provides the cofactor NADPH for full activation of 11b-HSD1, was unaffected by E 2 . A kinetic study revealed that E 2 acted as a non-competitive inhibitor of 11b-HSD1. The inhibitory effect of E 2 on 11b-HSD1 was reproduced in adipocytes isolated from rat mesenteric fat depots. This is the first demonstration that E 2 inhibits 11b-HSD1, thereby providing a novel insight into the anti-obesity mechanism of estrogen.