The effects of ascorbic acid and ascorbate-induced lipid peroxidation upon (3H)-5-HT binding were examined in total membrane fractions prepared from mouse cortex and hippocampus. Low concentrations of ascorbic acid promoted lipid peroxidation of membranes as assessed by malondialdehyde production relative to intermediate concentrations of ascorbate. The actual concentration of ascorbate required for expression of pro-oxidative and antioxidative properties was dependent upon assay conditions such as temperature and ionic constituents. Ascorbate-induced lipid peroxidation was completely prevented by addition of 1 mM ethylenediamine tetraacetic acid (EDTA) and enhanced by GTP at concentrations typically used in binding assays. Marked lipid peroxidation was associated with loss of (3H)-5-HT binding sites with little effect upon affinity of the receptor for the ligand. In contrast, mild lipid peroxidation occurring during the binding assay with the ligand present was associated with a decreased affinity for (3H)-5-HT and the appearance of a curvilinear Scatchard plot. Under assay conditions that prevented ascorbate-induced lipid peroxidation, Scatchard analysis indicated only a single high-affinity binding site for (3H)-5-HT even when assayed with an expanded range of ligand concentrations. Preparation of ligand and assay of (3H)-5-HT binding in the absence of ascorbate resulted in shallow, markedly curvilinear Scatchard plots. These data support the continued use of ascorbate in (3H)-5-HT binding assays to prevent ligand degradation and the addition of 1 mM EDTA to prevent lipid peroxidation from occurring during the binding assay.