In the 15 years since its discovery anandamide has been implicated in many physiological processes. The signaling pathways mediating many of these processes are now coming to light, particularly in the CNS. The complexity of the cannabinoid system and the identification of many potential other receptors for anandamide have made conclusive evidence of molecular pathways stimulated by this molecule significantly more difficult to achieve. It is becoming obvious that anandamide receptor signal transduction is not a simple process and that many different cascades can be activated depending on a range of both experimental and physiological variables. This chapter explores the signaling pathways activated by anandamide both through the cannabinoid receptors and through other cellular targets.