A rapid and continuous decline in wild mammalian species populations has been documented in recent decades. Although in situ conservation strategies such as habitat preservation are usually the best way to preserve biodiversity, other rescue strategies such as germplasm cryopreservation are sometimes necessary. Germplasm cryopreservation involves the freezing of gametes, embryos, gonadal tissues, or somatic tissues of species threatened with extinction. There is substantial diversity in the cryobiological requirements among cell types and tissues of each species. Research has focused on adapting techniques developed for the conservation of the genetic material of domestic animals for use with wild species about which relatively little is known. This review describes and discusses the current and potential use of cryobanking for the preservation of cells and tissues of threatened species.