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Stem cells are characterized by their ability to self-renew and differentiate into various cell types. They offer great potential for a wide range of applications, however, medical studies on the use of embryonal stem cells are largely limited to bioethical issues searching for alternative sources of stem cells, which include isolating cells from adult organisms or inducing pluripotentiality of somatic cells by administration of transcription factors. Nowadays, stem cells are used to study the mechanisms of cell differentiation and treat diseases that are commonly considered to be incurable, such as diabetes and neurodegenerative diseases, as well as enable regeneration of skin damage and myocardium. This review introduces the subject of stem cells, their sources and application in regenerative medicine.