The majority of eukaryotic cells synthesize neutral lipids and package them into cytosolic lipid droplets. In vertebrates, triacylglycerol-rich lipid droplets of adipocytes provide a major energy storage depot for the body, whereas cholesteryl ester-rich droplets of many other cells provide building materials for local membrane synthesis and repair. These lipid droplets are coated with one or more of five members of the perilipin family of proteins: adipophilin, TIP47, OXPAT/MLDP, S3-12, and perilipin. Members of this family share varying levels of sequence similarity, lipid droplet association, and functions in stabilizing lipid droplets. The most highly studied member of the family, perilipin, is the most abundant protein on the surfaces of adipocyte lipid droplets, and the major substrate for cAMP-dependent protein kinase [protein kinase A (PKA)] in lipolytically stimulated adipocytes. Perilipin serves important functions in the regulation of basal and hormonally stimulated lipolysis. Under basal conditions, perilipin restricts the access of cytosolic lipases to lipid droplets and thus promotes triacylglycerol storage. In times of energy deficit, perilipin is phosphorylated by PKA and facilitates maximal lipolysis by hormonesensitive lipase and adipose triglyceride lipase. A model is discussed whereby perilipin serves as a dynamic scaffold to coordinate the access of enzymes to the lipid droplet in a manner that is responsive to the metabolic status of the adi- The ability to synthesize sterol esters or triacylglycerols and store these neutral lipids in cytoplasmic lipid droplets is a universal property of eukaryotes from yeast to humans. Although the presence of lipid droplets in cells and tissues had been noted in early observations of stained histological sections, the elucidation of the functions and composition of lipid droplets is a relatively recent development. Early hypotheses that lipid droplets provide a homeostatic mechanism to regulate intracellular lipid levels date back to studies in the 1970s in the laboratory of Michael S. Brown and Joseph L. Goldstein showing the esterification of cholesterol derived from the receptor-mediated uptake of low density lipoproteins and the depletion of cholesteryl ester stores after the withdrawal of lipoproteins from the culture medium of cells (1-3). Despite early speculation that cytosolic lipid droplets provide an important source of cholesterol for the maintenance, repair, and synthesis of membranes, very few studies throughout the 1970s and 1980s addressed the formation or dissolution of lipid droplets.The first hint that proteins coat the cytosolic surfaces of intracellular lipid droplets and play critical roles in regulating neutral lipid metabolism emerged with the discovery of perilipins on adipocyte lipid droplets in the laboratory of Constantine Londos in 1991 (4). Since the identification of perilipins, four additional lipid droplet proteins with sequence similarity to perilipins have been described in vertebrates, with two additional famil...