We present an in-depth analysis of the structural and functional properties of Imperatoxin I (IpTx i ), an ϳ15-kDa protein from the venom of the scorpion Pandinus imperator that inhibits Ca 2؉ release channel/ryanodine receptor (RyR) activity (Valdivia, H. H., Kirby, M. S., Lederer, W. J., and Coronado, R. (1992) Proc. Natl. Acad. Sci. U.S.A. 89, 12185-12189). A cDNA library was prepared from the venomous glands of this scorpion and used to clone the gene encoding IpTx i . From a single continuous messenger RNA, the information coding for the toxin is translated into two mature polypeptide subunits after elimination of a basic pentapeptide. The IpTx i dimer consists of a large subunit (104-amino acid residues) with phospholipase A 2 (PLA 2 ) activity covalently linked by a disulfide bond to a smaller (27 amino acid residues), structurally unrelated subunit. Thus, IpTx i is a heterodimeric protein with lipolytic action, a property that is only shared with -bungarotoxins, a group of neurotoxins from snake venoms. The enzymatic subunit of IpTx i is highly homologous to PLA 2 from bee (Apis mellifera) and lizard (Heloderma horridum) venoms. The small subunit has no significant similarity to any other known peptide, including members of the Kunitz protease inhibitors superfamily that target the lipolytic effect of -bungarotoxins. A synthetic peptide with amino acid sequence identical to that of the small subunit failed to inhibit RyR. On the other hand, treatment of IpTx i with p-bromophenacylbromide, a specific inhibitor of PLA 2 activity, greatly reduced the capacity of IpTx i to inhibit RyRs. These results suggested that a lipid product of PLA 2 activity, more than a direct IpTx i -RyR interaction, was responsible for RyR inhibition.