Neurons containing immunoreactivity for melanin-concentrating hormone (MCH) were located in the brain of the teleost Poecilia latipinna by light microscopic (peroxidase antiperoxidase) and electron microscopic (immunogold) methods. Neuronal cell bodies were found in the tuberal hypothalamus, mostly within the nucleus lateralis tuberis, pars lateralis, containing MCH-immunoreactive granules up to 150 nm in diameter. From here bundles of immunoreactive fibers could be traced through the preoptic area as far forward as the olfactory bulb, and through the posterior hypothalamus up into the pretectal thalamus and midbrain. The main projection was, however, to the neurohypophysis, where MCH fibers were observed to form contacts with pituicytes, basement membranes around blood vessels, and the endocrine cells of the pars intermedia. Occasionally MCH-immunoreactive terminals were also seen near the corticotrophs of the rostral pars distalis. These results support the hypothesis that MCH may act as a systemic hormone, a central neurotransmitter, and a modulator of pituitary function.