Antibodies are unique proteins of the immune system that exhibit high affinity and specificity, which have emerged as powerful molecular tools with a broad range of applications in research, diagnosis, and treatment of diseases. Since the 1970s, the hybridoma technology allowed the large‐scale generation of rodent monoclonal antibodies with selectivity for a single antigen. However, the therapeutic efficacy of these antibodies was disappointing due to inefficient activation of the human effector functions, short half‐life, and elevated immunogenicity that in some cases resulted in severe allergic reactions. The recombinant DNA technology allowed the engineering of a new generation of therapeutic antibodies by replacement of the murine components of antibodies with their human counterparts. This process started with the generation of mouse/human chimeric antibodies, followed by humanized antibodies, and finally fully human antibodies, each step significantly diminishing the immunogenicity of the antibodies. Importantly, the presence of the human fragment crystallizable (Fc) region in these antibodies makes them more effective in patients. These improvements resulted in a class of drugs that exhibit high specificity and functionality with less, if any, immunogenicity and toxicity, emerging as the fastest growing class of biological therapeutics. A rapidly growing number of human‐engineered antibodies are being used as therapeutic agents alone or in combination with other therapeutic interventions for the treatment of a wide variety of diseases that include cancer, transplant rejection, allergy, and autoimmune disorders. Further, modifications in the structure of antibodies that modulate or add new biological properties are broadening the range of their clinical applications.