© 2019 The Authors The regulation of gene expression in response to increased levels of reactive oxygen species (ROS) is a ubiquitous response in aerobic organisms. However, different organisms use different strategies to perceive and respond to high ROS levels. Yeast Yap1 is a paradigmatic example of a specific mechanism used by eukaryotic cells to link ROS sensing and gene regulation. The activation of this transcription factor by H 2 O 2 is mediated by peroxiredoxins, which are widespread enzymes that use cysteine thiols to sense ROS, as well as to catalyze the reduction of peroxides to water. In filamentous fungi, Yap1 homologs and peroxiredoxins also are major regulators of the antioxidant response. However, Yap1 homologs are involved in a wider array of processes by regulating genes involved in nutrient assimilation, secondary metabolism, virulence and development. Such novel functions illustrate the divergent roles of ROS and other oxidizing compounds as important regulatory signaling molecules.