Intracellular cyclic AMP and testosterone productions by purified mature rat Leydig cells were stimulated by oLH (25 \g=m\g/l ) 18-and 12-fold, respectively, after a 5-h incubation period. The replacement of the incubation medium by charcoal-treated testicular venous plasma (40%, v/v) from adult rams in the breeding season induced an inhibition of cyclic AMP and testosterone productions (82 and 66%, respectively, of oLH-stimulated values). Testicular arterial plasma is less effective than testicular venous plasma, even when it originates from non-breeding season rams; in that case, testicular venous and arterial plasma strongly inhibit testosterone productions (84 and 67%, respectively of oLH-stimulated values), which probably indicates that the inhibitory activity is higher in the non-breeding season. The addition of peripheral plasma leads to a testosterone production equal to 35 and 65% of the oLH-stimulated values, respectively, for ram blood collected in non-breeding and breeding seasons. The same concentration of ovine testicular lymph or rete testis fluid is without significant effect on cyclic AMP production; however, testosterone is slightly decreased by lymph but enhanced by rete testis fluid. Increasing amounts of venous or arterial testicular blood induce a dose-related decrease of the specific binding of labelled hCG in both rat and ram testicular membranes. This inhibiting factor is present in peripheral and testicular blood of either control or hypophysectomized or castrated rams, is a protein in nature, heat-sensitive, and has an apparent molecular weight higher than 10 000 daltons. These results suggest the existence of a control of LH-specific binding to its receptors and of Leydig cell cyclic AMP and testosterone outputs; these activities are not species-specific and are more concentrated in testicular venous than in arterial blood. The origin of this inhibiting factor remains to be determined, since it is not confined to the testis and not of pituitary origin.The first step in the mechanism of gonadotropin action on Leydig cells is the interaction of the peptide hormone with specific receptors on the plasma membrane. After this binding, a series of events takes place, especially cyclicAMP formation, lead¬ ing to testosterone production. A local control of rat Leydig cell functions has been observed (1); indeed, both stimulatory and inhibiting factors produced by the seminiferous tubules modulate Leydig cell functions (2-4). Moreover, several re¬ ports deal with the existence of endogenous inhib¬ itors modulating the binding of gonadotropic hor¬ mones to their specific receptors. In testicular and ovarian extracts, low and high molecular weight FSH-binding inhibitors have been described (bovine testis (5-7); human and sheep ovaries (8); porcine follicular fluid (9,10)). Similarly, a factor which inhibits the binding of LH/hCG to its recep¬ tor has been reported in the testis (11,12) and the ovary (8,13,14). These gonadotropin-binding in¬ hibitors have also been observed in human serum (15,16) ...