Human myeloblastin (leucocyte proteinase 3) showed a very slow approach to the steady-state velocity when the pH was rapidly increased from 3.2 to 7.0. The kinetic mechanism of this hysteretic process was interpreted as a slow conformational change of myeloblastin from an inactive form at acidic pH to the active form at neutral pH. The transition between the two enzyme forms could occur spontaneously in the absence of substrates with a first-order rate constant of 0.0033 s^-1. In the presence of peptide substrates activation occurred more rapidly: the observed rate constant was linearly dependent upon the substrate concentration and contained a contribution of the spontaneous as well as of the substrate-dependent process, whose second-order rate constant was characteristic of the particular substrate. This pH-dependent phenomenon of hysteresis on the part of myeloblastin, that is not manifested by the closely related leucocyte elastase, may have a physiological control function during phagocytosis by damping the rate of interconversion between enzymically inactive and active enzyme conformations.