Intense ATP signaling through P2X7 purinergic receptors can lead to excitotoxicity, a feature which initiates neuronal demise in experimental paradigms relevant to ischemia and to traumatic injury. In addition, recent data provide evidence that oligodendrocytes also express P2X7 receptors that are activated under experimental pathological conditions involving white matter demise. Thus, this receptor subtype is a promising target for the development of new drugs to prevent white matter damage in acute and chronic diseases.