The waveform of an isolated excitatory monosynaptic response reflects the kinetics of transmitter release, the kinetics of synaptic receptor channels and the filtering properties of neurons. Results reported here indicate that long-term potentiation (LTP) causes correlated decreases in the rise time and decay time constant of synaptic potentials recorded in hippocampal slices in which inhibitory currents and post-synaptic spiking were suppressed. Statistical comparisons of waveforms revealed that the distortions introduced by LTP could be corrected by stretching the time-scale of potentiated responses according to the percent change in the decay time constant. The LTP associated decrease in the decay time constant also obtained in slices from immature hippocampus which contain spines and dendrites greatly simplified from those of the adult. Hence, filtering properties of spines are not likely involved in the effect. Paired-pulse facilitation (PPF), a transient increase in transmitter release, did not reproduce the waveform effects of LTP but did cause a slight leftward shift of the response. These results suggest that LTP modifies the kinetics of receptor channels, and that PPF accelerates release.