Platelets respond to a large number of stimuli by undergoing complex biochemical and morphological changes. These changes are involved in physiological processes including adhesion, aggregation, and coagulation. Platelet activation produces membrane alterations that can be recognized by monoclonal antibodies. In this report we describe a novel activation-dependent protein recognized by a monoclonal antibody, JS-1. The platelet glycoprotein was designated p-155 according to its apparent reduced molecular weight, p-155 exists in the native state as varying sized, large multimers held together by disulfide bonds. p-155 is released upon platelet activation and binds to the activated platelet surface. Although p-155 and platelet glycoprotein Ia migrate similarly on reduced sodium dodecyl sulfate-polyacrylamide gel electrophoresis, immunodepletion and isoelectric focusing distinguished p-155 from glycoprotein Ia. p-155 differed from von Willebrand factor and from thrombospondin in its reduced molecular weight. Additionally, immunoblotting of immunoprecipitated p-155 with antisera to von Willebrand factor and to thrombospondin confirmed the unique identity of p-155. Evidence for a soluble, nonintegral membrane-associated protein was obtained by Triton X-114 phase separation studies, membrane elution studies, and by the demonstration of the protein in the aqueous phase of platelet releasate. Both radioimmunoprecipitation and direct binding techniques demonstrated the activation-dependent nature of p-155. The protein could not be detected in other blood cells, endothelial cells, HEL cells, liver, or in plasma. The functional role of p-155 in platelets is not yet known.