Phospholipase A2(PLA2G1B) is a secreted protein which belongs to the phospholipase A2 family. It catalyzes the release of fatty acids from glycero-3-phosphocholines. It catalyzes the calcium-dependent hydrolysis of the 2-acyl groups in 3-sn-phosphoglycerides. This releases glycerophospholipids and arachidonic acid that serve as the precursors of signal molecules. Sequences of pancreatic PLA2G1B enzymes from a variety of mammals have been reported. One striking feature of these enzymes is their close homology to venom phospholipases of snakes. Mice lacking in PLA2G1B are resistant to obesity and diabetes induced by feeding a diabetogenic high-fat/high-carbohydrate diet. Oral supplementation of a diabetogenic diet with the PLA2G1B inhibitor methyl indoxam effectively suppresses diet-induced obesity and diabetes. PLA2G1B inhibition may be a potentially effective oral therapeutic option for treatment of obesity and diabetes.