Oscillatory fluctuations in the cytosolic concentration of free calcium ions (Ca(2+)) are considered a ubiquitous mechanism for controlling multiple cellular processes. Inositol 1,4,5-trisphosphate (IP(3)) receptors (IP(3)R) are intracellular Ca(2+) release channels that mediate Ca(2+) release from endoplasmic reticulum (ER) Ca(2+) stores. The three IP(3)R subtypes described so far exhibit differential structural, biophysical, and biochemical properties. Subtype specific regulation of IP(3)R by the endogenous modulators IP(3), Ca(2+), protein kinases and associated proteins have been thoroughly examined. In this article we will review the contribution of each IP(3)R subtype in shaping cytosolic Ca(2+) oscillations.