With recent advances in cryobiology, cryopreservation of the oocyte and ovarian tissue is rapidly becoming an important service provided by medical centers throughout the world. The general indication for oocyte or ovarian tissue cryopreservation is to retain future fertility potential for women who face the possibility of premature or imminent ovarian failure resulting from treatments for various disease states including cancer. Considering limitations imposed by age, lack of a partner, or sufficient time to undergo embryo cryopreservation, these patients have few options if they desire preservation of their fertility. The objective of this manuscript is to review the basic aspects of oocyte and ovarian tissue cryopreservation, and to discuss the current and future applications of these technologies in fertility preservation.