Nasal breathing affects cognitive functions, but it has remained largely unclear how respiration-driven inputs shape information processing in neuronal circuits. Current theories emphasize the role of neuronal assemblies, coalitions of transiently active pyramidal cells, as the core unit of cortical network computations. Here, we show that respiration-related oscillations (RROs) directly pace the activation of neuronal assemblies in the medial prefrontal cortex (mPFC) of mice. Neuronal assemblies are more efficiently entrained than single neurons and activate preferentially during the descending phase of RROs. At the same time, overlap between individual assemblies is minimized during descending RRO due to the efficient recruitment of GABAergic neurons by assemblies. Our results thus suggest the RROs support cortical operations by defining time windows of enhanced yet segregated assembly activity.