Chemotherapy and radiation treatment for malignancies or other conditions such as hematologic and autoimmune disorders, have resulted in improved survival rates but may lead to sterility. Women who postpone conception until late reproductive years are also at increased risk to become infertile. The purpose of our review is to evaluate advances and techniques for fertility preservation. We performed a literature search using the keywords fertility preservation, vitrification, oocytes, embryo, ovarian cryopreservation, and ovarian suspension and conducted the search in MEDLINE, EMBASE, and the Cochrane Database of systematic reviews. The results show that today, it is possible to cryopreserve oocytes, embryos, or ovarian tissue. The most commonly used technique remains embryo cryopreservation. Another improvement is the development of vitrification or rapid freezing technique. For women undergoing local pelvic radiation, one should consider ovarian suspension. Medical professionals, patients, and their families should be aware that in some conditions, the reproductive function can be preserved. Although one cannot guarantee future fertility, a realistic hope for women at risk of having premature ovarian failure can now be offered.