MicroRNAs are short non-coding RNA molecules that are involved in diverse physiological and developmental processes by controlling the gene expression of target mRNAs. They play important roles in almost all kinds of cancer where they modulate key processes during tumorigenesis such as metastasis, apoptosis, proliferation, or angiogenesis. Depending on the mRNA targets they regulate, they can act as oncogenes or as tumor suppressor genes. Multiple links between microRNA biogenesis and cancer highlight its significance for tumor diseases. However, mechanisms of their own regulation on the transcriptional and posttranscriptional level in health and disease are only beginning to emerge. Here, we review the microRNA-processing pathway as well as recent insights into posttranscriptional regulation of microRNA expression.