Biological diversity is the variability among living organisms from all sources of nature. Genetic polymorphism study support a lot when any economically important particular species is taken into consideration. The knowledge of genetic background of a species and its population structure is very essential for their successful conservation and management. Molecular techniques have been supporting in the determination of population diversity and also to determine the genetic architecture of a wide variety of closely related individuals. Molecular techniques based on DNA polymorphism are now used in population genetic studies, systematic and molecular taxonomy. This chapter will provide information on genetic diversity of various economically important species such as protozoa, worms, insects, pearl oyster, fishes and birds. The study of genetic variations in economically important species has practical significance for developing strategies to control the disease, to improve reproductive traits, yield more beneficiary products like honey, silk, pearl, manure, etc. Since there are some data gaps, most suitable and promising technology must be used to elucidate the role of every single gene involved in the pathways to be studied in order to apply for more benefit to the society.