Immune Modulating Peptides (IMP) discussed in literature as a universal immunocorrectors with wide areas of usage which balance the immune system without causing global immune suppression or overreaction. The present article aim is to review the effect and drawbacks of IMPs in form of Dialyzable leukocyte Extracts (DLE) or Transfer Factors (TF) during and following chemotherapy, radiotherapy, drugs interactions, cancer response and clinical outcomes in different cases of cancers such as metastatic breast cancer, glioma, prostate cancer, osteosarcoma and others. The considered cases of immune overreaction and IMP's impact include autoimmune diseases such as rheumatoid arthritis, multiple sclerosis and allergic reactions. The most difficult therapeutic decision is to choose the right treatment for patients with cancer and autoimmune diseases as they both attempt to supervise and control the immune system, managing immune cells in opposite sides. As patients with autoimmune disease experience difficulty to stay in such treatment when immune cells stimulated in order to identify and destroy cancer cells the IMP as immunocorrectors become one of the main and only healthy choices. The universal mechanism of IMPs action and the absence of contraindications extend the indications for their use in pediatric practice. This includes the complex treatment of respiratory viral infections, the possibility of using in frequently ill children with clinical signs of immune dysfunction and acute intestinal infections. According to the reports on safety, absence of adverse and side effects along with positive outcome for patients the IMPs considered as valuable immunocorrector.