Despite that advances in medical treatment and interventional procedures have reduced the mortality rate in patients with coronary artery disease, the number of patients with refractory myocardial ischemia and congestive heart failure is rapidly increasing. Experimental studies have demonstrated that bone marrow (BM) contains adult stem cells that can induce neovascularization and improve heart function in ischemic myocardium. Recent insights into the understanding of the mechanisms involved in proliferation, recruitment, mobilization, and incorporation of BM-derived stem cells into the myocardium and blood vessels have prompted development of cellular transplantation therapy for heart diseases refractory to conventional therapy. Initial preliminary clinical studies indicated potential clinical benefit of BM therapy in patients with acute myocardial infarction and chronic myocardial ischemia. Nevertheless, many obstacles remain, such as long-term safety and optimal timing and treatment strategies for BM cell therapy, and these issues need to be addressed in rationally designed, randomized clinical trials.