An understanding of the molecular mechanisms that plant pathogens use to successfully colonise host tissue can be gained by studying the biological activity of pathogen proteins secreted during infection. Several secreted ‘effector’ proteins with possible roles in virulence have been isolated from extracellular fungal pathogens, including three that have been shown to negate host defences. In most cases, significant effector variation is observed between different pathogen isolates, driven by the recognitional capacity of disease resistance proteins arrayed against the pathogen by the host plant. This review summarises what is known about the expression, function and variation of effectors isolated from extracellular fungal pathogens.