In this article, a survey of recent lipase research, with special emph
asis on molecular structure-function relationships, is presented. Dete
rmination of crystallographic structures of lipases from microbial and
mammalian origin has shed light on the molecular mechanism of lipase
catalyzed acyl ester hydrolysis. A catalytic triad similar to serine p
roteases is responsible for the cleavage of substrate ester bonds, inv
olving the formation of an acyl-enzyme intermediate. Comparative struc
tural studies revealed a common three dimensional fold and a superimpo
sable topology of the catalytic machinery in lipases, esterases, and o
ther hydrolytic enzymes. Availability of three dimensional structures
is the basis for understanding the mechanism of lipase catalysis and f
or elucidation of the molecular interactions that result in variant se
lectivities towards triacylglycerols and their analogs.