<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2006-11-15</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001042810</issuerCik>
        <issuerName>EQUITY ONE, INC.</issuerName>
        <issuerTradingSymbol>EQY</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001381159</rptOwnerCik>
            <rptOwnerName>Andrews Gregory R</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1600 NE MIAMI GARDENS DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2>NORTH MIAMI BEACH</rptOwnerStreet2>
            <rptOwnerCity>FLORIDA</rptOwnerCity>
            <rptOwnerState>X1</rptOwnerState>
            <rptOwnerZipCode>33179</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Consulting Financial Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Gregory R. Andrews</signatureName>
        <signatureDate>2006-11-17</signatureDate>
    </ownerSignature>
</ownershipDocument>
