The effects of salmon calcitonin (sCT) on the secretion of 17b-estradiol (E 2 ) were examined in female common carp, Cyprinus carpio. Vitellogenic stage fish adapted to high-Ca water were i.p. injected with vehicle, sCT, human chorionic gonadotropin (hCG), or hCG plus sCT. To determine whether ovarian follicles are equipped with CT receptors, a CT binding assay was conducted. In the in vitro experiments, vitellogenic follicles were incubated with stimulators and inhibitors. Administration of sCT increased the basal and hCG-stimulated E 2 release in vivo and in vitro. Binding characteristics of [ 125 I]sCT to plasma membrane preparation of carp ovarian follicles showed saturability with high-affinity (K d Z48 . 48 pmol/l and B max Z1 . 2 pmol/mg protein). To clarify the mechanism of E 2 production by sCT, in vitro effect of sCT and hCG on aromatase activity (conversion of testosterone to E 2 ) and cytochrome P450 aromatase (P450arom) gene expression in carp ovarian follicles were investigated. Salmon CT-stimulated both aromatase activity and P450arom gene expression in ovarian follicles of carp. sCT-stimulated E 2 release by the ovarian follicles in vitro was augmented in the presence of dibutyryl cAMP. Inhibitor of protein kinase A (PKA), SQ 22536 inhibited sCT-stimulated steroid production in a dose-dependent manner. Specific inhibitor of protein kinase C (PKC), NPC-15437 dihydrochloride had no inhibitory effects on sCT-induced E 2 release. The present study indicates that sCT binds specifically to carp ovary and stimulates E 2 production by increasing the activity of cytochrome P450 aromatase and P450arom gene expression. The results further suggest that stimulatory action of sCTon E 2 production is mediated through cAMP pathway.