Using slices of rat hypothalamus maintained in vitro, we have examined release of oxytocin and vasopressin under conditions of increased neuronal activity. We report here that when the supraoptic or paraventricular nucleus is depolarized with high K<sup>+</sup> solutions, hormone is released into areas close to the nucleus. Similar experiments with guinea pig hypothalamus suggest that neurophysin may also be co-released with oxytocin and vasopressin. Use of acetylcholine to selectively stimulate vasopressin neurones appears to evoke a rise in local release of vasopressin but not oxytocin. These results suggest that under conditions of increased neuronal activity, hormones normally secreted from the neurohypophysis are secreted locally into the hypothalamus.