Platelet activation by thrombin and most other agonists appears to require two second messenger systems that are both initiated by phospholipase C-catalysed cleavage of phosphatidylinositol phosphates leading to: 1. formation of inositol phosphates with a subsequent rise in intracellular calcium from intracellular stores and from outside the cell; 2. formation of diacylglycerol with subsequent activation of protein kinase C. This review examines inositol phosphate metabolism in platelets and its involvement in calcium metabolism.