A histochemical study has been made of groups of cells lying adjacent to the blood vessels of the kidney of Neoceratodus forsteri. The cells contain lipid droplets of varying sizes, stain positively for cholesterol and its esters and contain 3betaol-steroid dehydrogenase activity. Similar cells have previously been described in another dipnoan fish, Protopterus, and in a urodele, Pleurodeles waltlii and are considered to be the adrenocortical tissue of these species. Because of the histochemical characteristics of the cells together with their location, we conclude that they represent the adrenocortical homologue of N. forsteri. As is the case in Protopterus, no chromaffin tissue was detected in the kidney of N. forsteri.