Motor proteins are powered by nucleotide hydrolysis and exert mechanical work to carry out many fundamental biological tasks. To ensure their correct and efficient performance, the motors’ activities are allosterically regulated by additional factors that enhance or suppress their NTPase activity. Here, we review two highly conserved mechanisms of ATP hydrolysis activation and repression operating in motor proteins—the glutamate switch and the arginine finger—and their associated regulatory factors. We examine the implications of these regulatory mechanisms in proteins that are formed by multiple ATPase subunits. We argue that the regulatory mechanisms employed by motor proteins display features similar to those described in small GTPases, which require external regulatory elements, such as dissociation inhibitors, exchange factors and activating proteins, to switch the protein’s function ‘on’ and ‘off’. Likewise, similar regulatory roles are taken on by the motor’s substrate, additional binding factors, and even adjacent subunits in multimeric complexes. However, in motor proteins, more than one regulatory factor and the two mechanisms described here often underlie the machine’s operation. Furthermore, ATPase regulation takes place throughout the motor’s cycle, which enables a more complex function than the binary ‘active’ and ‘inactive’ states. This article is part of a discussion meeting issue ‘Allostery and molecular machines’.