Rat liver biliverdin reductase exists in two molecular forms. The major molecular form 1 has a high reduction rate for biliverdin IX alpha, while the minor molecular from 2 has high reduction rates for both biliverdins IX alpha and IX beta. The major molecular form 1 was gradually transformed into a second major form (form 3) by treatment of the rats with CoCl2. Form 1 reduces biliverdin IX alpha at two and a half times the rate of biliverdin IX beta while form 3 reduces both isomers at about the same rate. This transformation involves a de novo mRNA and protein synthesis since it could be prevented by cycloheximide and actinomycin D. Molecular form 3 can be transformed back into molecular form 1 by an in vitro treatment with reduced thioredoxin. Phenylhydrazine treatment also induced the transformation of molecular form 1 into molecular form 3 in rat liver. Biliverdin reductase from rat spleen and kidney exists only in molecular form 1 and is not transformed into molecular form 3 by either CoCl2 or phenylhydrazine treatments.