Abstract: We describe recent advances in understanding sphingolipid functions and metabolism in the baker's yeast Saccharomyces cerevisiae. One milestone has been reached in yeast sphingolipid research with the complete or nearly complete identification of genes involved in sphingolipid synthesis and breakdown. Other advances include roles for sphingolipid long-chain bases as signaling molecules that regulate growth, responses to heat stress, cell wall synthesis and repair, endocytosis and dynamics of the actin cytoskeleton. We touch briefly on other sphingolipid functions so that readers unfamiliar with the field will gain a broader view of sphingolipid research. These functions include roles in protein trafficking/exocytosis, lipid rafts or microdomains, calcium homeostasis, longevity and cellular aging, nutrient uptake, cross-talk with other lipids and the interaction of sphingolipids and antifungal drugs.