Schwann cells (SCs) are responsible for myelination of nerve fibers in the peripheral nervous system. Voltage-dependent K+currents, including inactivating A-type (KA), delayed-rectifier (KD), and inward-rectifier (KIR) K+channels, constitute the main conductances found in SCs. Physiological studies have shown thatKDchannels may play an important role in SC proliferation and that they are downregulated in the soma as proliferation ceases and myelination proceeds. Recent studies have begun to address the molecular identity of K+channels in SCs. Here, we show that a large repertoire of K+channel α subunits of theShaker(Kv1.1, Kv1.2, Kv1.4, and Kv1.5),Shab(Kv2.1), andShaw(Kv3.1b and Kv3.2) families is expressed in mouse SCs and sciatic nerve. We characterized heteromultimeric channel complexes that consist of either Kv1.5 and Kv1.2 or Kv1.5 and Kv1.4. In postnatal day 4 (P4) sciatic nerve, most of the Kv1.2 channel subunits are involved in heteromultimeric association with Kv1.5. Despite the presence of Kv1.1 and Kv1.2 α subunits, the K+currents were unaffected by dendrotoxin I (DTX), suggesting that DTX-sensitive channel complexes do not account substantially for SCKDcurrents. SC proliferation was found to be potently blocked by quinidine or 4-aminopyridine but not by DTX. Consistent with previous physiological studies, our data show that there is a marked downregulation of allKDchannel α subunits from P1–P4 to P40 in the sciatic nerve. Our results suggest thatKDcurrents are accounted for by a complex combinatorial activity of distinct K+channel complexes and confirm thatKDchannels are involved in SC proliferation.