MicroRNAs (miRNA) - a novel class of small noncoding RNAs genes. Their final product is a twenty two nucleotides functional molecule of RNA. These small non-coding RNAs silence and target several genes through varied signalling pathways that include important physiological networks. MiRNAs regulates post-transcriptional expression of genes. The miRNA was discovered as small temporal RNA (stRNA) regulating development transition in Caenorhabditis elegans. The miRNAs have an enthusiastic part in neoplastic transformations either by elevating expression of oncogenes or reducing tumours suppressor genes and oncogene. Although miRNAs are key gene regulators, yet experimental and computational approaches are still scanty. Complete understanding of this prime regulating transcript class is still in need of exuberated research. The current article is reviewing miRNA, its discovery, role of miRNAs in suppression of tumours and oncogenes and role of miRNA in diagnosing cancer and its therapy.