The glycolipid transfer protein is found from animals and fungi to plants and red micro-alga. Some eukaryotes that do not encode the glucosylceramide synthase like the yeast Schizosaccharomyces pombe and Saccharomyces cerevisiae do neither produce glycolipid transfer like proteins. On the other hand yeast like Eremothecium gossypii that do synthesize glucosylceramide also express glycolipid transfer protein. Based on this novel genetic relationship it is not far fetched to assume that there must be a strong correlation between the synthesis of the glycolipid precursor and the glycolipid transfer protein. Because the glycolipid transfer protein is localized in the cytosol it is unlikely that it would participate in events associated with lipid rafts or caveolar structures, since they are found on the outer leaflet of the plasma membrane. Rather, GLTP is likely to be involved in events at the cytosolic side of the plasma membrane or the endoplasmic reticulum, maybe function as a reporter or sensor of glycolipid levels. A similar function has been proposed for other proteins with affinity for lipids like the oxysterol binding proteins and phosphatidylinositol transfer proteins that are thought to be able act as lipid sensors. Recent discoveries in the glycolipid transfer protein field are discussed.