MicroRNAs (miRNAs) are small noncoding RNAs (18∼24 nt) and function in many biological processes in plants. Although Eucalyptus trees are widely planted across the world, our understanding of the miRNA regulation in the somatic embryogenesis (SE) of Eucalyptus is still poor. Here we reported, for the first time, the miRNA profiles of differentiated and dedifferentiated tissues of two Eucalyptus species and identified miRNAs involved in SE of Eucalyptus. Stem and tissue-culture induced callus were obtained from the subculture seedlings of E. camaldulensis and E. grandis x urophylla, and were used as differentiated and dedifferentiated samples, respectively. Small RNA sequencing generated 304.2 million clean reads for the Eucalyptus samples (n = 3) and identified 888 miRNA precursors (197 known and 691 novel) for Eucalyptus. These miRNAs were mainly distributed in chromosomes Chr03, Chr05 and Chr08, and can produce 46 miRNA clusters. Then, we identified 327 and 343 differentially expressed miRNAs (DEmiRs) in the dedifferentiation process of E. camaldulensis and E. grandis x urophylla, respectively. DEmiRs shared by the two Eucalyptus species might be involved in the development of embryonic callus, such as MIR156, MIR159, MIR160, MIR164, MIR166, MIR169, MIR171, MIR399 and MIR482. Notably, we identified 81 up-regulated and 67 down-regulated miRNAs specific to E. camaldulensis, which might be associated with the high embryogenic potential. Target prediction and functional analysis showed they might be involved in longevity regulating and plant hormone signal transduction pathways. Further, using the gene expression profiles we observed the negative regulation of miRNA∼target pairs, such as MIR160∼ARF18, MIR396∼GRF6, MIR166∼ATHB15/HD-ZIP and MIR156/MIR157∼SPL1. Interestingly, transcription factors such as WRKY, MYB, GAMYB, TCP4 and PIL1 were found to be regulated by the DEmiRs. The genes encoding PIL1 and RPS21C, regulated by up-regulated miRNAs (e.g., egd-N-miR63-5p, egd-N-miR63-5p and MIR169,) were down-regulated exclusively in the dedifferentiation of E. camaldulensis. This is the first time to study the miRNA regulation in the dedifferentiation process of Eucalyptus and it will provide a valuable resource for future studies. More importantly, it will improve our understanding of miRNA regulation during the somatic embryogenesis of Eucalyptus and benefit the Eucalyptus breeding program.