Mycoplasma bovis is an important component of the bovine respiratory disease complex and recent reports identified that other species are also affected by M bovis. Control of the disease caused by M bovis has been unsuccessful owing to many factors, including the capacity of M bovis to evade and modulate the immune system of the host; the lack of known virulence factors; the absence of a cell wall, which renders antibiotics targeting cell-wall synthesis unusable; and the failure of vaccines to control disease on the field. The current knowledge on virulence and pathogenesis is presented in this review.