Steroid-based liquid crystal polymers and co-polymers have come a long way, with new and significant advances being made every year. This paper reviews some of the recent key developments in steroid-based liquid crystal polymers and co-polymers. It covers the structure–property relationship between cholesterol and sterol-based compounds and their corresponding polymers, and the influence of chemical structure and synthesis conditions on the liquid crystalline behaviour. An overview of the nature of self-assembly of these materials in solvents and through polymerisation is given. The role of liquid crystalline properties in the applications of these materials, in the creation of nano-objects, drug delivery and biomedicine and photonic and electronic devices, is discussed.