A particulate guanylate cyclase from crayfish hepatopancreas membranes was investigated with respect to its dependence on Ca2+ and calmodulin. Addition of Ca2+ to EGTA-treated membranes increased cyclase activity by 100%. 2. Calmodulin stimulated the activity about 5-fold. 3. This effect could be abolished by the calmodulin antagonist compound 48/80. 4. These results present evidence that the particulate guanylate cyclase of crayfish hepatopancreas is a Ca2+/calmodulin-dependent enzyme. 5. The implications of this observation upon glycogen metabolism of crustaceans are discussed.