•  Choline (Ch) is a precursor and metabolite of the neurotransmitter acetylcholine (ACh). •  Previously, in cardiomyocytes Ch was shown to activate an outward K+ current in a delayed rectifier fashion, which has been suggested to modulate cardiac electrical activity and to play a role in atrial fibrillation pathophysiology. However, the identity of this current remains elusive. •  Single‐channel recordings, biophysical profiles and specific pharmacological inhibition indicate that the current activated by Ch is the ACh‐activated K+ current (IKACh). •  Membrane depolarization increased the potency and efficacy of IKACh activation by Ch and thus gives the appearance of a delayed rectifier activating K+ current at depolarized potentials. •  Our findings support the emerging concept that IKACh modulation is both voltage‐ and ligand‐specific and reinforce the importance of these properties in understanding cardiac physiology. Abstract  Choline (Ch) is a precursor and metabolite of the neurotransmitter acetylcholine (ACh). In canine and guinea pig atrial myocytes, Ch was shown to activate an outward K+ current in a delayed rectifier fashion. This current has been suggested to modulate cardiac electrical activity and to play a role in atrial fibrillation pathophysiology. However, the exact nature and identity of this current has not been convincingly established. We recently described the unique ligand‐ and voltage‐dependent properties of muscarinic activation of ACh‐activated K+ current (IKACh) and showed that, in contrast to ACh, pilocarpine induces a current with delayed rectifier‐like properties with membrane depolarization. Here, we tested the hypothesis that Ch activates IKACh in feline atrial myocytes in a voltage‐dependent manner similar to pilocarpine. Single‐channel recordings, biophysical profiles, specific pharmacological inhibition and computational data indicate that the current activated by Ch is IKACh. Moreover, we show that membrane depolarization increases the potency and efficacy of IKACh activation by Ch and thus gives the appearance of a delayed rectifier activating K+ current at depolarized potentials. Our findings support the emerging concept that IKACh modulation is both voltage‐ and ligand‐specific and reinforce the importance of these properties in understanding cardiac physiology.