Two forms of phosphatidylinositol-specific phospholipase C from human platelet cytosol were resolved by DEAE-cellulose chromatography and purified further by hydrophobic chromatography. Both forms utilized phosphatidylinositol as the best substrate. However, the enzyme did not distinguish 2-arachidonylphosphatidylinositol from 2-oleoylphosphatidylinositol although the former substrate was known to be a predominant species in human platelets. Both forms exhibited pH optimum at 7.0. Both activities were inhibited completely by 1 mM EDTA and the inhibited preparations could be restored to full activity or to 60% by free Ca2+ or Co2+, respectively, at 100 microM. Higher concentrations of either ion were inhibitory. Other metal ions were ineffective. Addition of calmodulin in the presence of Ca2+ did not show any additional effect. Both forms were inhibited comparably by various phospholipids, fatty acids and detergents, suggesting that phosphatidylinositol in membranes might be a poor substrate for the enzyme. Initiation of phosphatidylinositol breakdown through the phospholipase C pathway may require additional activator(s). A variety of anti-platelet drugs, including phenylthiazines, local anesthetics and mepacrine, were found to be potent inhibitors of the enzyme, suggesting that these drugs might inhibit platelet function by inhibiting the early phase of arachidonate release.