A continuous spectrofluorimetric assay of calmodulin-dependent phosphatase is described. The assay monitors the formation of a fluorescent 4-methylumbelliferone from the dephosphorylation of 4-methylumbelliferyl phosphate and detects as little as 1 pmol of 4-methylumbelliferone. The phosphatase shows a Km of 1.3 mM for the substrate and a Vmax of 100 nmol/mg/min.