Microsponges are micro-porous particles, used mainly for topical and recently for oral administration. Microsponges have many advantages which make it a versatile drug delivery system. Microsponges can suspended or entrap a wide variety of substances and then be incorporated into a formulated product such as a gel, cream, liquid, or powder. Moreover, they may enhance stability, reduce side effects and modify drug release related to its porous structure which allows the active ingredient to sustain over time. The aim of this article is to provide details about microsponges including the method of preparation, characterization, mechanism of drug release from microsponges, different formulation and process factors, and a few applications about microsponges which are either proven or under research.