A modified Landau-Teller equation for vibrational relaxation in the condensed phase is proposed. This equation differs from previous approaches by accounting for the fluctuations of the energies of the vibrational levels that result from the interactions with the surroundings (bath). In the conventional approach the effects of the bath are only included in the coupling between the relaxing and accepting vibrational modes. It is shown that the additional inclusion of the fluctuations of the energy levels can lead to a dramatic change of the vibrational relaxation rate. (C) 2004 American Institute of Physics.