Pituitary adenylate cyclase-activating polypeptide (PACAP), vasoactive intestinal peptide (VIP), and their receptors have been localized within the hippocampus but their physiological function on synaptic transmission is still unclear. We investigated the effects of PACAP and VIP on evoked excitatory postsynaptic currents (EPSCs) recorded with patch clamp from CA1 pyramidal neurons in rat hippocampal slices. Bath application of PACAP reversibly reduced EPSC amplitude. This effect was partly prevented by intracellular addition of (R)-adenosine, cyclic 3',5'-hydrogenphosphorothioate (cAMPS-Rp), a cAMP antagonist inhibiting protein kinase A, but not by the calcium chelator 1,2-bis (2-aminophenoxy)ethane-N,N,N',N'-tetraacetic acid (BAPTA). Application of VIP induced a long-lasting increase of EPSC amplitude that was completely abolished when cAMPS-Rp was included in the intracellular solution. PACAP and VIP effects on EPSCs were mimicked by the cAMP agonist 8-bromoadenosine-3',5'-cyclic monophosphate (8-Br-cAMP). The differing abilities of PACAP and VIP to modulate transmission efficiency over long periods of time, through the cAMP/PKA pathway, suggest that these neuropeptides may exert opposing roles in synaptic plasticity.