The lipolysis stimulated receptor is a lipoprotein receptor that was initially described in 1992. In the presence of free fatty acids, the lipolysis stimulated receptor recognizes either apolipoprotein B or apolipoprotein E, and as a consequence, leads to the internalization and degradation of the lipoprotein particles. Its affinity is highest for those lipoproteins most susceptible to lipolysis, triglyceride‐rich lipoproteins. Since the initial biochemical identification and description of the lipolysis stimulated receptor, several reports have been published by our group that provide circumstantial evidence for its rolein vivofor the clearance of triglyceride‐rich lipid particles. In this review, we bring the readers up‐to‐date on the evidence for the role of the lipolysis stimulated receptor in lipoprotein metabolism, as well as the recent developments in its molecular characterization. Curr Opin Lipidol 9:221–224. © 1998 Lippincott–Raven Publishers