Carboxylesterases (CESs, E.C.3.1.1.1) constitute a large class of enzymes that hydrolyze chemicals containing such a functional group as a carboxylic acid ester, amide, and thioester. These enzymes are major pharmacokinetic determinants of ester/amide drugs and detoxify against organophosphorus and pyrethroid insecticides. In addition, these enzymes hydrolyze endogenous lipids and involve the assembling of lipoproteins. CESs exhibit overlapping substrate specificity; however, many drugs are hydrolyzed predominately by a single CES. Although there are exceptions, the relative sizes between the alcohol and acyl (acid) moieties of an ester contribute significantly to the isoform‐specific hydrolysis. CES activity is widely distributed in mammalian tissues, with the highest level in liver microsomes. High abundance of CESs in the liver is linked to certain cellular roles, notably in directing protein trafficking. CESs belong to the superfamily of α/β fold proteins and have similar crystal structure to other enzymes in this superfamily. CESs use a two‐step mechanism for catalysis. Hydrolysis of carboxylic acid esters leads to the formation of an alcohol and a carboxylic acid. Compounds with these moieties are substrates for conjugation enzymes or transporters. Likewise, hydrolysis may create or eliminate a substrate of other phase I enzymes, particularly cytochrome P450s. Like many other drug‐metabolizing enzymes, the expression of CESs is regulated by many factors including age, hormones, therapeutic agents, and environmental chemicals. Mammalian species express multiple forms of CESs. However, there are notable differences in substrate specificity, tissue distribution, and regulated expression.