Stem cells are unspecialized cells that have the ability to differentiate into other cells and the ability to self-regenerate. Stem cells are of two types: Embryonic stem cells (ESC) and Adult stem cells (ASC). Stem cell research begins early 1900’s when European researchers realized that the various types of blood cells e.g. White blood cells, red blood cells and platelets all came from Stem cells. Till today various developments have been made in field of stem cell research. John B. Gurdon and Shinya Yamanaka received The Nobel Prize in Physiology or Medicine 2012 for the discovery that mature cells can be reprogrammed to become pluripotent. This achievement has further revolutionized research interest in stem cells. Present review covers historical development and future perspective of stem cells research.