Phospholipid transfer protein (PLTP) is one of the main modulators of plasma HDL size and composition. The publications discussed in the present review have substantially increased our knowledge on the physiological importance of PLTP-mediated phospholipid transfer, especially between triglyceride-rich lipoproteins and HDL. Furthermore, novel data have provided clues about the transfer mechanism, and evidence for the direct involvement of PLTP in atheroprotection has recently been presented. The development of assays for PLTP mass determination has offered new tools for the elucidation of the physiological role of PLTP.