The renal ATP-sensitive low-conductance K+ channel (KATP) plays an important role in K+ recycling in the thick ascending limb and in K+ secretion in the collecting duct. The low-conductance KATP is stimulated by cAMP-dependent protein kinase A and inhibited by protein kinase C, arachidonic acid, acidic pH and sulfonylurea agents. We reviewed the progress concerning the properties of the recently cloned inward-rectifying K+ channel (ROMK or KirI) and compared their regulatory mechanisms with the native low-conductance KATP. The results are important to gain insight into molecular mechanisms by which ROMK channels are regulated.