Fragments of purified myelin, treated with crude phospholipase C (EC 3.1.4.3) from Clostridium perfringens, lost an average of 64% of the lipid-P content, comprising 81% of the sphingomyelin, 92% of the choline phosphoglyceride, 71% of the ethanolamine phosphoglyceride and 14% of the serine phosphoglyceride. The enzyme was capable of penetrating the multi-layered membranes of the myelin fragments. Small quantities of the enzyme were detectable in the treated fragments. At 5°, substantial quantities of phospholipase C activity became bound to the myelin without showing any hydrolytic action. Most of this enzyme was released into solution on incubation at 38° for 1 h. The ultrastructural morphology of myelin changed little after phospholipase C treatment, except for the appearance of large globules embedded in the membranes. The serological activity of myelin was not appreciably affected by enzyme treatment.