1. The development of the hypothalamo-neurohypophysial system was studied using immunocytochemistry with various antisera : anti-neurophysin, anti-oxytocin, anti-vasopressin, anti-vasotocin and anti-somatostatin. 2. Immunocytochemical investigation shows that anti-vasopressin and anti-vasotocin sera react with both vasopressin and vasotocin, whereas the anti-oxytocin serum specifically reveals the oxytocin-containing structures (Fig. 1g, h, i). 3. Perikarya stained with anti-neurophysin, anti-vasopressin and anti-vasotocin sera can be seen from the 11th week of fetal life (Fig. 1a) first in the supra-optic nucleus (SON), then in the para-ventricular nucleus (PVN). Their axons reach the neural lobe as early as the 11th week (Fig. 1b, c). 4. Oxytocin-containing perikarya appear simultaneously in the PVN (Fig. 1e) and SON during the 13th week. 5. From the 16th week, neurons stained with the anti-somatostatin serum can be seen among the neurophysin-positive cell-bodies of the SON and PVN. 6. The various populations of magnocellular neurons show a significant increase in number, especially up to the 19th week, and an increase in their hormonal content up to birth.