The surfactant‐associated proteins SP‐A and SP‐D are members of a family of host defense lectins, designated collectins. There is increasing evidence that these pulmonary, epithelial‐derived proteins are important components of the innate immune response to microbial challenge and participate in other aspects of immune and inflammatory regulation within the lung. Both proteins bind to glycoconjugates and/or lipid moieties expressed by a wide variety of microorganisms, and to certain organic particles, such as pollens. SP‐A and SP‐D have the capacity to modulate leukocyte function and, in some circumstances, to opsonize and enhance the killing of microorganisms. The biologic activity of cell wall components, such as Gram‐negative bacterial polysaccharides, or viral glycoproteins, such as the hemagglutinin of influenza viruses, may be altered by interactions with collectins. In addition, complementary or cooperative interactions between SP‐A, SP‐D and other host defense lectins could contribute to the efficiency of this defense system. Collectins could play particularly important roles in settings of inadequate or impaired specific immunity, and acquired alterations in the levels of active collectins within the airspaces and distal airways may increase susceptibility to infection.