The aim of this paper, by the United Nations University and the Institute of Advanced Studies, is to assist parties in preparations for biological prospecting in Antarctica. An increasing amount of the scientific research on the flora and fauna of the Antarctic is underway with a view to identifying commercially useful genetic and biochemical resources. The paper reviews bioprospecting activities in Antarctica to ascertain the nature and scope of existing Antarctic bioprospecting activities, as well as recommending further analysis into biological prospecting in Antarctica for the parties currently involved.