Two-photon laser scanning microscopy (TPLSM) is an efficient tool to study cerebral blood flow (CBF) and cellular activity in depth in the brain. We describe here the advantages and weaknesses of the olfactory bulb as a model to study neurovascular coupling using TPLSM. By combining intra- and extracellular recordings, TPLSM of CBF in individual capillaries, local application of drugs, we show that odor triggers odorant-specific and concentration-dependent increases in CBF. We also demonstrate that activation of neurons is required to trigger blood flow responses.