This review summarizes the available data on the effects of dioxins on retinoid levels, retinoid-related enzyme activities, and toxicological endpoints that have been correlated to retinoid effects. Similarities between dioxin toxicity and retinoid deficiency as well as retinoid excess are pointed out. Several possible levels of interaction between the dioxin and the retinoid signaling pathways are discussed, including the involvement of the Ah receptor, altered retinoic acid homeostasis, and an altered set point for retinoid storage. A hypothesis for the effect of dioxins on retinoids is suggested. In this hypothesis, comprising two cascades of effects on the molecular level, the effect of dioxins on retinoic acid levels is central.