The goal of the present study was to elucidate the role of the human striatum in learning via reward and punishment during an associative learning task. Previous studies have identified the striatum as a critical component in the neural circuitry of reward-related learning. It remains unclear, however, under what task conditions, and to what extent, the striatum is modulated by punishment during an instrumental learning task. Using high-resolution functional magnetic resonance imaging (fMRI) during a reward- and punishment-based probabilistic associative learning task, we observed activity in the ventral putamen for stimuli learned via reward regardless of whether participants were correct or incorrect (i.e., outcome). In contrast, activity in the dorsal caudate was modulated by trials that received feedback--either correct reward or incorrect punishment trials. We also identified an anterior/posterior dissociation reflecting reward and punishment prediction error estimates. Additionally, differences in patterns of activity that correlated with the amount of training were identified along the anterior/posterior axis of the striatum. We suggest that unique subregions of the striatum--separated along both a dorsal/ventral and anterior/posterior axis--differentially participate in the learning of associations through reward and punishment.