<title>Author Summary</title> <p>Comparisons of the human and chimpanzee genomes have revealed that the frequency of sequence differences between these species varies dramatically across the genome. Previously proposed explanations for this variation include a large ancestral population, variable mutation rates, or a complex speciation scenario in which humans and chimpanzees initially separated but then rehybridyzed several million years later. We consider, here, an alternate possibility; the action of selection to remove less-fit functional variants from a population has significantly reduced the frequency of “neutral” sequence differences at nearby sites. We identified sequences that are likely to be subject to natural selection because they are highly conserved across placental mammals and showed that neutral differences among five primate species are greatly depleted near such sequences. Applying a theoretical evolutionary model, we found that selection has played a greater role in shaping hominid genome evolution than has been appreciated and provides a better explanation for patterns of sequence differences than other hypotheses.</p>