Translation initiation in eukaryotes leads to the assembly of an 80S ribosome containing aminoacylated initiator tRNA (Met-) in the P (peptidyl) site with its anticodon base-paired to the initiation codon of mRNA. It involves at least eleven eukaryotic initiation factors (eIFs). eIF2, GTP, and Met- form a ternary complex, which together with eIF3, eIF1, and eIF1A binds to the 40S subunit to form a 43S complex (Benne and Hershey 1978). After binding to the 5′-end of mRNA, mediated by eIF4A, eIF4B, and eIF4F, the 43S complex scans downstream until it encounters an AUG triplet in a favorable context, where it stops and forms a stable 48S complex with established codon-anticodon base-pairing. eIF1 plays a key role in initiation codon selection (Yoon and Donahue 1992; Pestova et al. 1998; Pestova and Kolupaeva 2002). Finally, a 60S subunit joins the 48S complex but cannot do so directly, presumably because the interface surface of the 40S subunit is occupied by eIF1, eIF1A, eIF2, and eIF3, which must be displaced. The first step in ribosomal subunit joining is hydrolysis of eIF2-bound GTP and release of eIF2-GDP from 48S complexes (Das and Maitra 2002). eIF2 consists of α, β, and γ subunits. The structure of eIF2γ is characteristic of GTP-binding proteins (Schmitt et al. 2002), but eIF2 does not have intrinsic GTPase activity. Hydrolysis of eIF2-bound GTP is induced by eIF5, a GTPase-activating protein (GAP) specific for eIF2, which provides an “arginine finger” for the catalytic center of eIF2γ (Das and Maitra 2002). eIF5 binds directly to eIF2β but induces the GTPase activity of eIF2 only in those eIF2 ternary complexes that are bound to 40S subunits (Raychaudhuri et al. 1985). A few biochemical experiments indicate that eIF5-induced hydrolysis of eIF2-bound GTP may be weakly AUG-dependent (e.g., Raychaudhuri et al. 1985) but they were done in a minimal system containing only 40S subunits, eIF2 ternary complex, and eIF5, in which AUG triplets also stimulated the prior stage, binding of ternary complexes to 40S subunits. Although in vitro data concerning a link between initiation codon recognition and hydrolysis of eIF2-bound GTP are limited, strong genetic data support the importance of a stringent connection between them: Mutations in eIF5 (which increase its GAP activity), in eIF2γ (which increase eIF2 dissociation from Met- even without GTP hydrolysis) and in eIF2β (which increase eIF2's intrinsic GTPase activity) all enhance initiation at non-AUG codons in yeast (Huang et al. 1997). Thus premature hydrolysis of eIF2-bound GTP and release of eIF2 from initiation complexes reduce the fidelity of initiation and should be avoided. It has been widely assumed that eIF5-induced hydrolysis of eIF2-bound GTP and release of eIF2-GDP from 48S complexes lead to release of all other factors (e.g., Das and Maitra 2002). If this were so, hydrolysis of eIF2-bound GTP should logically suffice for subunit joining. However, it is sufficient only for 60S subunits to join minimal 48S complexes formed on AUG triplets, but not to 48S complexes formed on native mRNA with eIF2, eIF3, eIF1, and eIF1A. In this case, eIF5B is also required (Pestova et al. 2000). It has been suggested that eIF5B's role could be to adjust the position of Met- on the 40S subunit as a prerequisite for subunit joining (Roll-Mecak et al. 2001). However, eIF5B's role in subunit joining could also be because, contrary to the common assumption, one or more of eIF1, eIF1A, and eIF3 are not displaced from the 40S subunit after eIF5-induced eIF2-GDP release. Although eIF1, eIF1A, and eIF3 can all bind to 40S subunits independent of the eIF2 ternary complex (Fraser et al. 2004; Maag and Lorsch 2003), contrary to other reports (e.g., Trachsel and Staehelin 1979), in the absence of eIF2 ternary complex, these factors do not protect 40S subunits from joining with 60S subunits (Chaudhuri et al. 1999; Kolupaeva et al. 2005). Therefore, even if eIF1, eIF1A, and eIF3 were not released from 48S complexes after GTP hydrolysis, their presence should not prevent subunit joining. However, we recently found that eIF3 stably binds to 40S subunits in the presence of single-stranded RNA, forming ternary complexes in which RNA is most likely bound in the mRNA-binding cleft of the 40S subunit, and this prevents 40S subunits from joining with 60S subunits even in the absence of eIF2 ternary complex (Kolupaeva et al. 2005). These data suggest that association of eIF3 with 40S subunits in mRNA-containing 48S complexes after release of eIF2-GDP would potentially block subunit joining, and the role of eIF5B could be to displace eIF3 and possibly eIF1 and eIF1A from the 40S subunit after release of eIF2. This could occur in at least two ways. eIF5B could either actively displace these factors, yielding a free 40S subunit/Met- complex before subunit joining, or it could mediate subunit joining on 48S complexes containing eIF3, eIF1, and eIF1A so that these factors dissociate during the actual subunit joining event. We have investigated these questions and report here that eIF5-induced hydrolysis of eIF2-bound GTP in 48S complexes assembled on mRNA led to release of only eIF2, whereas eIF1 and eIF3 remained bound to 40S subunits. eIF5B does not influence factor displacement in the absence of 60S subunits, and eIF3 and eIF1 are released only during the actual subunit joining event mediated by eIF5B. In the absence of eIF1, eIF5-stimulated hydrolysis of eIF2-bound GTP did not depend on establishment of codon-anticodon interaction and occurred at the same rate in 43S and 48S complexes. In the presence of eIF1, GTP hydrolysis in 43S complexes was much slower than in 43S or 48S complexes assembled in the absence of eIF1. Establishment of codon-anticodon interaction in 48S complexes assembled in the presence of eIF1 relieved eIF1's inhibition. eIF1 therefore plays the role of a negative regulator, which inhibits premature GTP hydrolysis and links codon-anticodon base-pairing with hydrolysis of eIF2-bound GTP. Thus, in addition to its role in initiation codon selection at the stage of 48S complex formation, eIF1 also participates in ensuring the fidelity of initiation at the stage of hydrolysis of eIF2-bound GTP.