Thy-1 is a developmentally regulated, immunoglobulin superfamily member (IgSF), glycosylphosphatidylinositol (GPI)-anchored cell surface glycoprotein expressed most strongly in neurons and lymphocytes. Thy-1 is expressed in all vertebrates and has been implicated in a variety of processes, including axon regeneration and transmembrane signaling, but its specific function remains elusive. A Thy-1-like molecule in teleost fish was recently identified, with evidence for its role in lipid-raft based signal transduction linked to optic nerve regeneration. For a better characterization of Thy-1, the evolutionary relationships between novel fish homologues and other vertebrate Thy-1s were analyzed. Although the sequence similarity between fish and mammals is very low, there appeared conservation of gene structure and disrupted but recognizable synteny. In addition, the detailed expression analysis of teleost Thy-1 showed nervous system Thy-1 mainly in sensory systems. Strong Thy-1 expression was detected in the youngest retinal ganglion cells and in some neurons in deeper retinal layers, probably amacrine cells. From the olfactory bulbs, Thy-1-positive cells extended axons into the telencephalon. The vagal lobe stained intensively as well as facial and glossopharyngeal lobes and nerves. Outside the CNS, skin cells, blood vessels, kidney macrophages, swim bladder, spleen, gut-associated nerve fibers and the palatal organ were labeled.