We describe a Cat-valued nerve of bicategories, which associates to every bicategory a simplicial object in Cat, called the 2-nerve. This becomes the object part of a 2-functor N : NHom → [∆,Cat], where NHom is a 2-category whose objects are bicategories and whose 1-cells are normal homomorphisms of bicategories. The 2-functor N is fully faithful and has a left biadjoint, and we characterize it...