Abstract. We first use properties of the Fuglede-Kadison determinant on L p (M ), for a finite von Neumann algebra M , to give several useful variants of the noncommutative Szegö theorem for L p (M ), including the one usually attributed to Kolmogorov and Krein. As an application, we solve the longstanding open problem concerning the noncommutative generalization, to Arveson's noncommutative H p spaces, of the famous 'outer factorization' of functions f with log |f | integrable. Using the Fuglede-Kadison determinant, we also generalize many other classical results concerning outer functions.