We examine the possibility of fermion mass generation in (2+1)-dimensi
onal gauge theory from the current algebra point of view. In our appro
ach the critical behavior is governed by the fluctuations of pions whi
ch are the Goldstone bosons for chiral symmetry breaking. Our analysis
supports the existence of an upper critical N(F) and exhibits the exp
licit form of the gap equation as well as the form of the critical exp
onent for the inverse correlation length of the order parameter.