The present review summarizes data about the properties, distribution, and effects of neuronal P2Y receptors. Extracellular nucleotide receptors can be classified into two types belonging either to the P2X (ligand-gated cationic channels) or the P2Y type (G protein-coupled receptors). Neuronal P2Y receptors comprise five cloned and functionally defined classes of which P2Y 1 , P2Y 6 , P2Y 11 , P2Y 12 , and P2Y 13 occur in the central nervous system. Various types of P2Y receptors stimulate inwardly rectifying potassium channels, positively or negatively modulate the high-voltage activated Ca 2+ current and increase the intracellular free Ca 2+ concentration in neuronal preparations. Moreover, in a subpopulation of pyramidal cells of the rat prefrontal cortex (PFC), the P2Y 2 receptor potentiates the function of a ligand-gated cationic channel, the N-methyl-D-aspartate (NMDA)-type excitatory amino acid receptor. This effect is G protein-mediated and utilizes the phospholipase C/inositol 1,4,5-trisphosphate/ Ca 2+ /calmodulin kinase II pathway. It appears that P2Y 2 receptors situated at astrocytes release glutamate, which in turn modulates NMDA receptors of neighbouring neurons via stimulation of group I metabotropic glutamate receptors. In contrast, P2Y 1 receptors inhibit the conductance of NMDA receptor-channels in all PFC pyramidal cells investigated. This effect is fast in onset and does not depend on G protein activation. It is suggested that P2Y 1 receptors alter the function of NMDA receptors by a direct protein-protein coupling in the membrane. Because ATP and dopamine are supposed to be coreleased from dopaminergic fibers onto layer V pyramidal cells, both neurotransmitters may interact with the neuronal NMDA receptor. Hence, D 1 dopamine receptors and P2Y 1 /P2Y 2 receptors may be involved in the fine tuning of higher order cognitive functions including learning and memory. Drug Dev. Res. 59:49-55, 2003.