Cyclic AMP phosphodiesterase in rat adipocytes is stimulated by insulin and also by agents that increase cyclic AMP levels. When the enzyme is immunoprecipitated from a solubilised microsomal preparation from adipocytes prelabelled with radioactive phosphate and separated on SDS polyacrylamide gels, label is found in a protein band at the expected Mr for adipose tissue phosphodiesterase. Treatment of the adipocytes with isoproterenol or methyl isobutylxanthine increased the labelling of this band. Insulin alone had no effect on its labelling but did decrease the incorporation of label caused by isoproterenol.