During the past several years there has been a vivid research in the field of stem cell. This article explores the recent advances in the field of stem cell research and the ethical issues involved in it. By definition, stem cells are undifferentiated cell characterized by the ability to renew themselves and differentiating into a diverse range of specialized cell types. Even though stem cells have potential to treat various diseases, their application is controversial. Due to these ethical concerns scientists are trying to find new ways of obtaining stem cells that behave like embryonic stem cells without harming a blastocyst. Moreover, there is a growing body of evidence showing that administration of stem cells leads to the successful regeneration of tissues or organ.