Recent studies found that forkhead box protein O1 (FoxO1) does not only demonstrate important biological functions in cell proliferation, gluconeogenesis, energy metabolism, and oxidative stress, but it also plays a vital role in the remodeling process of bones. FoxO1 can regulate bone mass by affecting osteoblasts, osteoclasts, and precursor cells. In this article, we review the role of FoxO1 in bone metabolism and elucidate its underlying mechanism.