Thyroglobulin (Tg), the thyroid hormone precursor, is a major protein component in the thyroid gland and may have other important functions. Here, we show that bovine Tg inhibited 125I-labeled transforming growth factor-beta1 (125I-TGF-beta1) binding to cell-surface TGF-beta receptors in mink lung epithelial cells with an IC50 of approximately 300 nM. After disuccinimidyl suberate (DSS) modification, reduction/alkylation, treatment with 8 M urea, 0. 1% SDS, or acidic pH (pH 4-5), Tg exhibited a approximately 5-10-fold increase of 125I-TGF-beta1 binding inhibitory activity with IC50 of approximately 30-60 nM. This inhibitory activity was an intrinsic property of the Tg and could not be segregated from Tg protein by 5% SDS-polyacrylamide gel electrophoresis or by immunoprecipitation using antiserum to Tg. Untreated Tg did not affect DNA synthesis but blocked the TGF-beta-induced inhibition of DNA synthesis in mink lung epithelial cells. After DSS activation, Tg possessed TGF-beta agonist activity and inhibited DNA synthesis of mink lung epithelial cells and rat thyroid cells. The activated Tg also exerted a small but significant TGF-beta agonist activity in transcriptional activation of plasminogen activator inhibitor-1. These results suggest that Tg possesses an authentic TGF-beta activity which can be induced by chemical modifications and treatments with denaturing agents and acidic pH.