AbstractThe increasing observational evidence offered by photometric and spectroscopic data of magnetic cycles in lower main sequence stars, has confirmed the general expectation that the same basic dynamo mechanism operates in the Sun and main sequence in stars with outer convective envelopes.Unfortunately, no clear correlation has been found, up to date, with stellar parameters as mass, rotation rate and age, even if irregular activity and shorter cycle periods seem to be characteristic of stars more massive than the Sun, while hyperactive fast rotating components of binary systems like RS CVn’s and BY Dra’s show a tendency for cycles as long as several decades.Although dynamo theory has probably captured die essential physics of the convection-rotation interaction giving rise to stellar magnetic activity, as evidenced, for instance, by the correlation between proxy activity, indicators and the Rossby parameter related to the dynamo number, the reliability of the present theoretical background should be measured by its capacity of interpreting and predicting characteristics and periodicities (or aperiodicities) of stellar cycles. This should be done in the framework of the nonlinear approach, which, in principle can describe multimodal dynamo behaviour with a variety of time scales.The fundamentals of the theory must be tested, however, in the closest astrophysical laboratory, our Sun. Serious problems to a dynamo mechanism operating in the convection zone have been posed by most recent helioseismological results, which, on the other hand, do not rule out the possibility of dynamo action in the transition layer between the convective and die radiative zones, which is suggested independently by the global solar cycle features. Indeed, assuming the correct sign of helicity in the transition layer, the helioseismological data on the radial gradient of angular velocity support both equatorward propagation of dynamo waves at lower latitudes and poleward propagation at higher latitudes, which is evidenced by different tracers of the solar cycle.