For decades it has been thought that a neuron releases only one classical neurotransmitter from all of its processes. However, recent work has shown that most neuronal populations release more than one classical transmitter, and indeed that the transmitters can be segregated into different processes of the same neuron. Glutamate and gamma-aminobutyric acid, the major excitatory and inhibitory neurotransmitters in the mammalian central nervous system, appear to be co-released with most other transmitters, as well as with each other. The release of multiple transmitters by the same neuron enhances the spatial and temporal control of synaptic transmission. Moreover, dynamic regulation of neurotransmitter phenotypes increases the plasticity of neurotransmission, indicating potential avenues for therapeutic intervention.