Oocyte cryopreservation is an important method in the field of infertility. This procedure can benefit the cancer patient wishing to preserve fertility before initiation of any destructive chemotherapy or radiation therapy. It is a substitute for embryo cryopreservation and thereby avoids associated ethical issues. Oocyte cryopreservation technology can lead to the establishment of "oocytes banks" and provides solutions to ovarian failure patients. Technical obstacles were the main cause for the slow progress of oocyte cryopreservation. When compared to embryos and sperm cryopreservation technologies which are in common use worldwide, the reports on oocyte cryopreservation-derived pregnancies, were sporadic and with low success rates. However, in recent years we are witnessing more and more publications and increasing success rates in this important and fascinating field. Improvement in the freezing protocols and the introduction of vitrification procedures increased the survival rates and led to the birth of more then 100 healthy newborns. In the future we believe this method will be part of daily work in the fertility world. This review describes the methods available today and the clinical reports published in this field.