Androgens may regulate the male skeleton either directly by stimulation of the androgen receptor (AR) or indirectly by aromatization of androgens into estrogens and, thereafter, by stimulation of the estrogen receptors (ERs). To directly compare the effect of ER activation on bone in vivo with the effect of AR activation, 9-month-old orchidectomized wild-type and ER-inactivated mice were treated with the nonaromatizable androgen 5␣-dihydrotestosterone, 17-estradiol, or vehicle. Both ER␣ and AR but not ER activation preserved the amount of trabecular bone. ER␣ activation resulted both in a preserved thickness and number of trabeculae. In contrast, AR activation exclusively preserved the number of trabeculae, whereas the thickness of the trabeculae was unaffected. Furthermore, the effects of 17-estradiol could not be mediated by the AR, and the effects of 5␣-dihydrotestosterone were increased rather than decreased in ER-inactivated mice. ER␣, but not AR or ER, activation resulted in preserved thickness, volumetric density, and mechanical strength of the cortical bone. ER␣ activation increased serum levels of insulin-like growth factor I, which were positively correlated with all the cortical and trabecular bone parameters that were specifically preserved by ER␣ activation but not by AR activation, suggesting that insulin-like growth factor I might mediate these effects of ER␣ activation. Thus, the in vivo bone-sparing effect of ER␣ activation is distinct from the bone-sparing effect of AR activation in adult male mice. Because these two pathways are clearly distinct from each other, one may speculate that a combined treatment of selective ER modulators and selective AR modulators might be beneficial in the treatment of osteoporosis. S ex steroids are important not only for the maintenance of the female skeleton, but also for the male skeleton. The relative contribution of androgens versus estrogens in the regulation of the male skeleton is unclear. Testosterone replacement therapy increases bone mineral density (BMD) in hypogonadal men (1), but several clinical studies indicate that BMD is correlated more to serum levels of estradiol than to serum levels of testosterone in males (2-4). A previous clinical study, which directly compared estrogen versus testosterone effects on bone, showed that estrogens play the dominant role in the regulation of bone resorption markers, whereas both estrogens and testosterone contribute to the maintenance of markers for bone formation (5).The effects of testosterone can be exerted either directly by means of the androgen receptor (AR) or indirectly by aromatization to estrogens and further by estrogen receptor (ER)␣ and͞or ER. All three sex steroid receptors are expressed both in growth-plate cartilage and in bone (6-11). Functional studies using sex steroid receptor-inactivated animal models have demonstrated that ER␣ but not ER is important for the regulation of appendicular longitudinal skeletal growth in male mice (12-14), and a recent report indicates that AR-inactivate...