 Exosomes are small membrane-bound vesicles secreted by cells which contain proteins, nucleic acids, and other biological molecules. They are released into the extracellular environment where they can transfer information between cells. Recently, exosomes derived from mesenchymal stem cells, MSCs, have been found to possess regenerative properties, such as restoring tissue function in various disease models and inducing beneficial in vitro effects. Furthermore, the source and culture conditions of MSCs have been shown to affect the regenerative responses induced by exosomes. Thus, this review summarizes recent advances in understanding the regenerative properties of MSCS-derived exosomes and discusses the molecular mechanisms behind them.