Abstract. The mammalian ovary is an extremely dynamic organ in which a large majority of follicles are effectively eliminated throughout their reproductive life. Due to the numerous efforts of researchers, mechanisms regulating follicular growth and atresia in mammalian ovaries have been clarified, not only their systemic regulation by hormones (gonadotropins) but also their intraovarian regulation by gonadal steroids, growth factors, cytokines and intracellular proteins. Granulosa cells in particular have been demonstrated to play a major role in deciding the fate of follicles, serving molecules that are essential for follicular growth and maintenance as well as killing themselves by an apoptotic process that results in follicular atresia. In this review, we discuss the factors that govern follicular growth and atresia, with a special focus on their regulation by granulosa cells. First, ovarian folliculogenesis in adult life is outlined. Then, we explain about the regulation of follicular growth and atresia by granulosa cells, in which hormones, growth factors and cytokines, death ligand-receptor system and B cell lymphoma/leukemia 2 (BCL2) family members (mitochondriamediated apoptosis) are further discussed. O varian follicle development is a process regulated by various endocrine, paracrine and autocrine factors that act coordinately to select follicles for ovulation. The vast majority of follicles (more than 99% of all follicles) fail to reach the preovulatory stage, but instead undergo the degenerative process called atresia. After the endocrine mechanisms by a hypothalamo-pituitary-ovarian axis were elucidated, granulosa cells have been the focus of interest in numerous studies that examined the mechanisms of follicular growth and atresia. From in vivo and in vitro experiments, factors secreted from granulosa cells, including gonadal steroids, growth factors, and cytokines, were shown to be essential for the survival of granulosa cells and their eventual follicular growth. Moreover, granulosa cells were observed as initial cell populations that underwent apoptosis in atretic follicles earlier than oocytes and theca cells, suggesting their role as the initiator of follicular atresia. Factors so far associated with apoptosis expressed in granulosa cells were shown to be crucial for the precise regulation of follicular growth and atresia. Here, we provide an overview of ovarian folliculogenesis in adult life and then discuss the intraovarian factors that govern follicular growth and atresia, with special emphasis on the precise mechanisms of granulosa cell survival and death.