Substantial evidence indicates that brain-derived neurotrophic factor (BDNF) plays a crucial role in synaptic plasticity. Long-lasting synaptic plasticity is restricted to active synapses and requires new protein synthesis. Recent work has identified local protein synthesis as an important source for new protein during the expression of enduring synaptic plasticity. This review discusses recent progress in understanding the mechanisms that restrict the action of BDNF to active synapses and by which BDNF mediates chemical and structural modifications of individual synapses, placing an emphasis on the role of local protein synthesis in these processes.