This chapter is devoted to sphingomyelinases, enzymes that catalyze the hydrolysis of sphingomyelin (ceramide phosphorylcholine) into ceramide and phosphorylcholine. The reaction is formally similar to that of a phospholipase C. Sphingomyelinases have long been known [1, 2], but the last decade has seen renewed interest after the discovery of the sphingomyelin signal transduction pathway [3][4][5][6]. Ceramide appears to be a lipid second messenger in programmed cell death (apoptosis), cell differentiation and cell proliferation [reviews in 7-12; for the opposite point of view see 13], and sphingomyelinase is probably a major source of ceramide in the cells, although this is also a debated point. This contribution is based on a recent review [14] that we have modified according to several suggestions and criticisms received, and to which we have added what we consider as the most significant novel data to have appeared since.Two main aspects of sphingomyelinases are covered here, one corresponds to "classical enzymology", with a description of the known sphingomyelinases, and of their properties. The second is more directly related to our experimental work, and describes the interaction of sphingomyelinases with phospholipid bilayers, and the mutual influence of enzyme and substrate properties. One important function of sphingomyelinases may be related to changing membrane properties (charge, fluidity, permeability) by transforming sphingomyelin into ceramide. The present work does not cover the cell physiological effects of sphingomyelinases and/or ceramides, which are described in detail in the above-mentioned reviews.