This paper addresses well-posedness issues for the initial value problem (IVP) associated with the generalized Zakharov-Kuznetsov equation, namely,For 2 k 7, the IVP above is shown to be locally well posed for data in H s (R 2 ), s > 3/4. For k 8, local well-posedness is shown to hold for data in H s (R 2 ), s > s k , where s k = 1 − 3/(2k − 4). Furthermore, for k 3, if u 0 ∈ H 1 (R 2 ) and satisfies u 0 H 1 1, then the solution is shown to be global in H 1 (R 2 ). For k = 2, if u 0 ∈ H s (R 2 ), s > 53/63, and satisfies u 0 L 2 < √ 3 ϕ L 2 , where ϕ is the corresponding ground state solution, then the solution is shown to be global in H s (R 2 ).