Introduction: Streptozotocin (STZ) is the most used diabetogenic chemical for creating rat models of type 1 and type 2 diabetes. Despite ~60 years of using STZ in animal diabetes research, some prevailing views about STZ preparation and use are not supported by evidence. Here, we provide practical guides for using STZ to induce diabetes in rats. Search Method: Related articles from PubMed, Scopus, and Google Scholar from 1963, when the diabetogenic effect of STZ was first discovered, were collected and used. Results: Susceptibility to the diabetogenic effect of STZ is inversely related to age, and males are more susceptible to STZ than females. STZ is mostly injected intravenously or intraperitoneally, but its intravenous injection produces more stable hyperglycemia. Despite the prevailing view, no fasting is necessary before STZ injection, and injection of its anomer-equilibrated solutions (i.e., about 2 hours after dissolving) is recommended. Mortality following the injection of diabetogenic doses of STZ is due to severe hypoglycemia (during the first 24 h) or severe hyperglycemia (24 h after the injection and onwards). Some measures to prevent hypoglycemia-related mortality in rats include (1) providing access to food soon after the injection, (2) administration of glucose/sucrose solutions during the first 24-48 h after the injection, (3) administration of STZ to fed animals, and (4) using anomer-equilibrated solutions of STZ. Hyperglycemia-related mortality can be overcome with insulin administration. Conclusion: Some prevailing views on the preparation and use of STZ are not supported by evidence. For STZ administration, the age and sex of the animal, as well as the administration route and time of preparing of STZ solution, should be considered.