Myelin isolated from the rat peripheral nervous system (sciatic nerve and cauda equina) contained Mg2+-dependent protein kinase that phosphorylated myelin polypeptides. Ca2+, in micromolar concentrations, markedly stimulated phosphorylation (half-maximal stimulation at 5 μM (free) Ca2+) but at higher concentrations (> 100 μM Ca2+) it caused inhibition. In the presence of Triton X-100, phosphorylation (±Ca2+) of myelin was increased and Ca2+ caused up to a 10-fold increase in phosphorylation. Among the myelin polypeptides, P0 (Mr, 28 000), a major glycoprotein, accounted for nearly 60% of the total phosphate incorporated into the myelin and Ca2+ markedly promoted phosphorylation of P0. Phosphorylation of other myelin polypeptides, P2 (Mr, 16 000), Y (Mr, 26 000), and P1 (Mr, 20 000), and the Ca2+-stimulatory effect on phosphorylation of these were also evident. Cyclic AMP (or other cyclic nucleotides) failed to show any significant stimulatory effect on myelin phosphorylation.