Nonlinear gyrokinetic equations are derived from a systematic Hamiltonian theory. The derivation employs Lie transforms and a noncanonical perturbation theory first used by Littlejohn for the simpler problem of asymptotically small gyroradius. For definiteness, only electrostatic fluctuations in slab geometry are considered; however, there is a straightforward generalization to arbitrary field geometry and electromagnetic perturbations. An energy invariant for the nonlinear system is derived, and several limiting forms are considered. The weak turbulence theory of the equations is examined. In particular, the wave kinetic equation of Galeev and Sagdeev can ony be derived by an asystematic truncation of the equations, implying that this equation fails to consider all gyrokinetic effects. The equations are simplified for the case of small but finite gyroradius and put in a form suitable for efficient computer simulation. Although it is possible to derive the Terry–Horton and Hasegawa–Mima equations as limiting cases of our theory, several new nonlinear terms absent from conventional theories appear and are discussed. The resulting theory is very similar in content to the recent work of Lee. However, the systematic nature of our derivation provides considerable insight into the structure and interpretation of the equations.