Lysophospholipase 1 (LYPLA1) is a protein palmitoyl thioesterase responsible for depalmitoylation of the oncogene HRas. Palmitoylation of such oncogenes is thought to be required for trafficking and malignant transformation, making LYPLA1 a target for downregulating oncogenic signaling. ML348 is a reversible LYPLA1 inhibitor with an IC50 value of 210 nM. It is 14-fold selective for LYPLA1 over LYPLA2 (IC50 = >3,000) and demonstrates little activity against a panel of more than 20 other serine hydrolases (IC50s = >10,000).