Enables miRNA binding activity and ribonuclease III activity. Involved in several processes, including meiotic spindle organization; nervous system development; and regulation of transcription by RNA polymerase II. Acts upstream of or within several processes, including animal organ development; negative regulation of macromolecule metabolic process; and regulation of nervous system development. Located in cytoplasm. Part of RISC complex. Is expressed in several structures, including alimentary system; genitourinary system; nervous system; respiratory system; and sensory organ. Used to study DiGeorge syndrome and dilated cardiomyopathy. Human ortholog(s) of this gene implicated in colorectal cancer; hepatocellular carcinoma; multinodular goiter; nephroma; and pleuropulmonary blastoma. Orthologous to human DICER1 (dicer 1, ribonuclease III). [provided by Alliance of Genome Resources, Apr 2022]