Catchment hydrologists have long puzzled over the question: How can catchments rapidly generate storm flows and pulses of solutes in response to storm events? Conceptual models viewing catchments as composed of discrete source areas generating flow at unique time scales and with unique chemical characteristics have been used to explain the observed changes in flow and water chemistry. Surprisingly, those conceptual models usually do not treat the stream channel as one of the potential source areas. Here, we propose the channel‐source hypothesis in which the stream itself should be considered as a potential source with the same rigour as other contributing areas. We pose this in the spirit of the scientific use of the word: a hypothesis is not a proven idea but rather a provisional supposition serving as the basis for further study. We suggest that the channel should be considered as a potential source for dissolved organic carbon (DOC). Channels store substantial amounts of organic matter, and stream ecologists have long studied stream carbon cycling. From those studies, we know that leaching and decomposition can generate DOC from particulate organic carbon (POC). Further, POC is stored in channel ‘dead‐zones’—regions of low flow velocity ‐ that can be activated as flow velocity increases, thus releasing accumulated DOC during storms. All catchments are different; there is no reason to assume that channel sources are always important, in every catchment, in every storm. Thus, the channel‐source hypothesis does not replace existing conceptual models. Instead, it adds another potential mechanism that may explain DOC dynamics observed in streams. The channel‐source hypothesis has substantial implications for catchment studies examining sources of DOC in stream water or using DOC as a tracer to determine the locations of, and proportional contributions of, different source areas for streamflow generation. Organic matter from litter fall or autochthonous production is stored in dead zones within the wetted stream channel under low‐flow conditions. Leaching and microbial processes generate DOC within the organic matter. As water depth and flow velocity increase during the rising leg of the storm hydrograph, organic matter can be scoured out of dead zones, releasing the accumulated DOC into the active stream channel.