Long-term potentiation (LTP) is operationally defined as a
long-lasting increase in synaptic efficacy following high-frequency
stimulation of afferent fibers. Since the first full description of
the phenomenon in 1973, exploration of the mechanisms underlying
LTP induction has been one of the most active areas of research
in neuroscience. Of principal interest to those who study LTP,
particularly in the mammalian hippocampus, is its presumed role
in the establishment of stable memories, a role consistent with
“Hebbian” descriptions of memory formation. Other
characteristics of LTP, including its rapid induction, persistence,
and correlation with natural brain rhythms, provide circumstantial
support for this connection to memory storage. Nonetheless, there
is little empirical evidence that directly links LTP to the storage of
memories. In this target article we review a range of cellular and
behavioral characteristics of LTP and evaluate whether they are
consistent with the purported role of hippocampal LTP in memory
formation. We suggest that much of the present focus on LTP reflects
a preconception that LTP is a learning mechanism, although
the empirical evidence often suggests that LTP is unsuitable for such
a role. As an alternative to serving as a memory storage device, we
propose that LTP may serve as a neural equivalent to an arousal or
attention device in the brain. Accordingly, LTP may increase in a
nonspecific way the effective salience of discrete external stimuli
and may thereby facilitate the induction of memories at distant
synapses. Other hypotheses regarding the functional utility of this
intensely studied mechanism are conceivable; the intent of this target
article is not to promote a single hypothesis but rather to stimulate
discussion about the neural mechanisms underlying memory storage and
to appraise whether LTP can be considered a viable candidate for such
a mechanism.