Diabetic macular edema (DME) is a leading cause of vision loss throughout the world. Three different corticosteroids have been used in the treatment of diabetic macular edema: triamcinolone acetonide, dexamethasone, and fluocinolone acetonide. Intravitreal injection of all three corticosteroids is associated with a similar side effect profile including worsening/formation of cataract, elevation of intraocular pressure, pseudo-endophthalmitis, and infectious endophthalmitis. Sustained-release implants of corticosteroids have recently been studied, and one has recently received FDA approval as the first corticosteroid for the treatment of diabetic macular edema. This review will address some of the major studies evaluating corticosteroids for DME and will focus on studies published within the last 2 years.