Recent findings with animal models have suggested a possible role for brain-derived neurotrophic factor (BDNF) in depression. We have therefore hypothesized that depression could be characterized by low levels of serum BDNF. Major depressed patients (15F+15M) diagnosed according to DSM-IV criteria and healthy controls (15F+15M) participated in the study. Serum BDNF was assayed with the ELISA method and the severity of depression was evaluated with Montgomery–�sberg-Depression Rating Scale (MADRS). BDNF levels were significantly lower in patients than in controls: 22.6�3 and 26.5�7 ng/ml (t-test=2.7; d.f.=58; P<0.01). They were negatively correlated to the MADRS scores (r=−0.55; P<0.02). Female patients were more depressed and released less BDNF than men. Analysis of covariance (MADRS and gender as independent variable vs. BDNF as dependent variable) indicated that depression severity mainly accounted for the negative correlation. These results suggest that major depression is characterized by low serum BDNF levels and support the hypothesis of neurotrophic factor involvement in affective disorders.