Neuronal growth‐inhibitory factor (GIF), also named metallothionein‐3, inhibits the outgrowth of neuronal cells. Recent studies on the structure of human GIF, carried out using NMR and molecular dynamics simulation techniques, have been summarized. By studying a series of protein‐engineered mutants of GIF, we showed that the bioactivity of GIF is modulated by multiple factors, including the unique TCPCP motif‐induced characteristic conformation, the solvent accessibility and dynamics of the metal–thiolate cluster, and the domain–domain interactions.