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Stem cell therapy offers a promising frontier in veterinary regenerative medicine, providing novel approaches for addressing various disorders in both livestock and companion animals. From musculoskeletal injuries to degenerative diseases, stem cell therapy emerges as a versatile and effective approach for improving animal health and overall well-being. Despite its potential, the clinical application of stem cells in the veterinary sector faces challenges, with ongoing exploration needed to understand the precise mechanisms of action and long-term benefits post-application. This chapter delves into the advantages and limitations of stem cells from diverse sources and species, shedding light on their regenerative potential. Further, it highlights the current landscape of stem cell banking and explores the scope of stem cells in targeted drug delivery and assisted reproductive technologies.