Tissue and cell transplantation are regarded as a popular procedure in clinical sciences, prospecting a new horizon for several incurable diseases. Along with its usefulness, many ethical concerns accompany this development. The ethical issue of organ transplant is unique to the source used which includes: living related, living unrelated, cadaveric, and xenotransplant. Obtaining organs has a separate set of ethical concerns which are discussed under two headings, namely salvage and donation. Then there is the issue of organ marketing and the ethical, social, and economical issues it encompasses. All these are active areas of debate, and we have touched upon them by turn. This century has brought a new aspect of transplantation into the light, stem cell transplantation. Here we present some work done recently on mesenchymal stem cells and their outcome. These cells are now being employed in the therapy of some incurable ailments. It seems this kind of transplantation, although possessing its own range of issues, could prove to be the way of the future.