Mycobacterial lipids have been studied for more than 70 years, due to the fascinating diversity of their structures and biological activities. A historical perspective, and the present status on the structure and activity of major lipids of the outer envelope of mycobacterial cells are presented : mycolic acids, which are main constituents of the cell wall, and glycolipids known for toxic or immunological properties (cord factor, SL, DAT, PGL, GPL, LOS, LAM). As far as possible, it was tried to distinguish between experimentally established knowledge and currently accepted speculations.