Cardiovascular disease is one of the leading causes of morbidity and mortality around the world. Even after successful revascularization in coronary artery disease, cell death continues and the loss of cardiomyocytes eventually leads to progressive ventricular dilation and heart dysfunction. The notion of repairing or regenerating lost myocardium via cell-based therapies remains highly appealing. The recent identification of human stem cells, including embryonic stem cells and adult stem cells, has raised optimism for the development of a new therapy. This new cell-therapy and the concept of regenerative medicine is aimed at restoring the damaged myocardium, both vasculature and muscle. Here, we review the stem cell field and other available cell sources for myocardial regeneration, focusing on the up-to-date status of stem cell biology, recent laboratory advances and the current clinical applications. In addition, the limitations and practical hurdles that need urgent solution before more extensive applications become feasible are also discussed.