P300 and cyclic adenosine monophosphate response element binding protein(CBP) were originally identified as transcriptional co-activator proteins that bind to the adenoviral E1A and the cyclic adenosine monophosphate- response element binding protein, respectively. They play a central role in multiple physiological events, for example, cell proliferation, differentiation and apoptosis. The transcription regulating properties of P300/CBP appear to be exerted through multiple mechanisms. This article intended to give a review on the structures, functions and mechanisms of P300/CBP, and its effects on transcription factors and cell cycle-associated factors.