A number of isomeric diacylglycerophosphocholines and diacylglycero sulfates containing O-acyl and/or S-acyl ester bonds were investigated as substrates for porcine pancreatic phospholipase A2 and its zymogen. A comparison is made with the kinetic properties of the enzyme toward the corresponding glycol detergents previously described [van Oort, M. G., Dijkman, R., Hille, J. D. R., & de Haas, G. H. (1985) Biochemistry (preceding paper in this issue)]. Hydrolysis of the secondary ester bond in the 1,2-diacylglycero-3-type lipids proceeds much faster than the splitting of the primary ester function present in the isomeric 1,3-diacylglycerol and 1-acylglycol derivatives. In sharp contrast to the glycol detergents, the substitution of the cleavable oxygen ester by a thio ester bond in the glycerol lipids results in 5 times lower kcat values. At alkaline pH and above the critical micelle concentration, the anionic sulfates are much better substrates than the corresponding phosphocholine-containing detergents. At very low detergent concentrations, below the critical micelle concentration, the anionic sulfates induce protein aggregation such that phospholipase A2, as well as its zymogen, is present in high molecular weight complexes containing several protein molecules. In these aggregates, protein-protein and/or lipid-protein interactions strongly activate phospholipase but not the zymogen.