In this 21st century, Lyophilization emerges to be a novel trend for the drying of pharmaceuticals and biological that are thermolabile or are unstable in aqueous form but stable for longer periods in their dried form. This article provides an overview on the process of lyophilization, how the freeze drying cycle is designed, discussing several important parameters which are important for understanding of this process as well as their role in the designing of an optimized freeze drying cycle, so that a robust and economical process of lyophilization can be developed which does not impact the product quality. It also describes the use of this process in various industries.