Voltage-dependent anion channels (VDACs) have originally been characterized as mitochondrial porins. Starting in the late 1980s, however, evidence began to accumulate that VDACs can also be expressed in plasma membranes. In this review, we briefly revisit the historical milestones in the discovery of plasma membrane-bound VDAC, and we critically analyze the evidence for VDAC plasma membrane localization obtained from various purification strategies and recently from plasma membrane proteomics studies. We discuss the possible biological function and relevance of VDAC in the plasma membrane and finally discuss a hypothetical model of how VDAC may be targeted to the plasma membrane.