Olfactory disorders have been regarded in the past with a sense of therapeutic nihilism. However, there have been remarkable advances in chemosensory research over the past several years. The clinical importance of olfactory disorders is well established, and entities such as presbyosmia have gained considerable broad attention. Powerful basic science experimental approaches have revealed aspects of olfactory neuron physiology, olfactory tissue maintenance and regeneration that provide new potential therapeutic targets for certain forms of olfactory dysfunction. Although many recent advances remain in pre-clinical stages, there is considerable reason for optimism regarding future approaches for treatment of patients with olfactory loss.