microRNAs, are regulatory small non-coding RNAs, that have recently been identified for the post-transcriptional regulation of gene expression in a variety of cellular processes especially important roles in disease and tissue remodeling. Apart from involvement in a variety of biological processes, microRNAs were early recognized for their potential use as biomarkers in disease diagnostics and therapeutics. Currently, there are number of microRNAs helping clinicians to determine the origins of cancer in disseminated tumors and other diseases. Though more than a decade of research on miRNA, yet the potency of their use is still in progress. The development of microRNA therapeutics has proved more challenging mainly due to delivery issues. This review focuses on the emerging insights involving miRNA biogenesis and their role as clinical diagnostic and therapeutic non-invasive biomarkers in various pathological conditions.