The distribution of insulin injeebed into normal rats and guinea pigs as the free hormone or as insulin-antibody complexes was studied by extraction of immunoreaetive insulin and by following the fate of 12aI-or ~31I-labeled insulin in the plasma, liver, kidneys and spleens of the injected animals. Injected free hormone rapidly disappears from the plasma to accumulate transiently in the liver, and, to a greater extent, in the proximal convoluted tubules of the kidneys. When insulin-antibody complexes formed in vitro are injected, the hormone disappears more slowly from the plasma and concentrates in the liver and spleen where it can be demonstrated by autoradiography in reticulo-endothelial cells; little or none is found in the kidneys. After injection into insulin-immunized guinea pigs, the hormone disappears very slowly from the plasma and accumulates almost exclusively in the liver with no evidence of concentration by any particular cell type; little or none is found in the kidneys or spleen.