Direct current‐generated magnetic fields (2–3 mT, 20‐min exposure) exerted biphasic effects on the population spike recorded from hippocampal slices. The initial decrease in the potential, observed during exposure of the slices to magnetic fields was followed by a recovery/amplification phase, which began after terminating the magnetic field action. During that phase the population spike exceeded the amplitude observed before application of the magnetic fields. The pattern of magnetic fields influence was not affected either by (+)‐5‐methyl‐10,11‐dihydro‐5H‐dibenzo (a,d) cyclohepten‐5,10‐imine maleate (MK801), or by D,L,‐2amino‐5phosphonovalerate (APV), a noncompetitive and competitive NMDA receptor antagonist, respectively. The rising phase of the potential, however, was eliminated by dantrolene, an inhibitor of intracellular Ca2 + channels. This suggests that intracellular calcium channels participate in the mechanism of the influence of the direct current magnetic fields on the function of the hippocampal tissue. Bioelectromagnetics 21:175–182, 2000. © 2000 Wiley‐Liss, Inc.