Over the past few decades, problems associated with impaired healing and an increased demand for accelerated patient recovery have driven musculoskeletal scientists to exploit the knowledge of various underlying molecular mechanisms for bone and soft-tissue healing. This has led to the exploration of various agents that may potentially serve as biological adjuncts to the conventional management of orthopedic conditions. One such orthobiologic that has been the focus of recent basic science and clinical orthopedic research is platelet-rich plasma (PRP). PRP therapy centers on the local delivery of a highly concentrated volume of platelets at the site of musculoskeletal injury. When activated, these platelets release various critical growth factors involved in the healing cascade. As the utility of PRP in clinical orthopedic applications increases, its role continues to be explored and defined. This article aims to put forth the basic concepts of PRP therapy, to review the available literature demonstrating its clinical utility, and to discuss key considerations that must be addressed, in an effort to better understand the future role of PRP in foot and ankle surgery.