Retinoblastoma (RB) is an inherited retinal disorder (IRD) caused by the mutation in the RB1 gene or, rarely, by alterations in the MYCN gene. In recent years, new treatment advances have increased ocular and visual preservation in the developed world. The management of RB has improved significantly in recent decades, from the use of external beam radiation to recently, more localized treatments. Determining the underlying genetic cause of RB is critical for timely management decisions. The advent of next-generation sequencing technologies have assisted in understanding the molecular pathology of RB. Liquid biopsy of the aqueous humor has also had significant potential implications for tumor management. Currently, patients' genotypic information, along with RB phenotypic presentation, are considered carefully when making treatment decisions aimed at globe preservation. Advances in molecular testing that improve our understanding of the molecular pathology of RB, together with multiple directed treatment options, are critical for developing precision medicine strategies to treat this disease. Author Contributions: Conceptualization, J.L.B., S.J.T. and J.M.O.; investigation, H.V.G., J.L.B., A.P.; Data curation H.V.G., J.L.B., A.P.; writing-original draft preparation H.V.G., J.L.B.; writing-review and editing A.P., J.L.B., S.J.T. and J.M.O.; Visualization J.L.B. and J.M.O.; supervision, J.M.O.; funding acquisition, J.L.B. and J.M.O.