Catalyzes the conversion of long-chain fatty acids to their active form acyl-CoA for both synthesis of cellular lipids, and degradation via beta-oxidation (PubMed:24269233, PubMed:22633490, PubMed:21242590).
Preferentially activates arachidonate and eicosapentaenoate as substrates (PubMed:21242590).
Modulates prostaglandin E2 secretion (PubMed:21242590).