Verticillium dahliae, a vascular parasite of sunflower, was grown in a medium supplemented with sunflower cell walls as a sole nitrogen source. The culture filtrate contained three proteinases. The largest amounts were associated with the proteinase PIII fraction, while proteinases PI and PII fractions were in very small quantities. The properties of the purified proteinases were similar and it seemed likely that PI and PII fractions resulted from autolysis of the PIII fraction. The PIII proteinase showed a molecular weight of 12 750 and optimal action at pH in the 7.5–9.5 range. Activity was that of an endopeptidase which hydrolyzed casein, haemoglobin, gelatin, and N-benzoyl-DL-arginine-p-nitroanilide and was much less active on N-tosyl-L-arginine methyl ester and did not hydrolyze N-benzoyl-L-tyrosine ethyl ester. Ethylenediaminetetraacetate and calcium had no effect on the PIII proteinase which was inhibited by HgCl2, phenyl-methyl-sulfonyl fluoride, N-p-tosyl-L-lysine-chloromethyl ketone and L-1-tosyl-amide-2-phenyl-ethyl-chloromethyl ketone. This indicated that the active site in the PIII proteinase probably contained free sulfhydryl groups.