Extracellular Vesicles (EVs) have emerged as promising candidates for both therapeutic interventions and diagnostic applications due to their unique biological properties and ability to facilitate intercellular communication. This review explores the diverse potential of EVs in the fields of therapeutics and diagnostics. We discuss the biogenesis and composition of EVs, highlighting their cargo of proteins, nucleic acids, and lipids. Furthermore, we delve into the therapeutic applications of EVs, including drug delivery, regenerative medicine, immunomodulation, and cancer therapy. Additionally, we examine the diagnostic utility of EVs, focusing on their role in biomarker discovery and imaging techniques for visualization. Challenges and future directions in EV research, including standardization, clinical translation, and emerging technologies, are also discussed. Overall, this review provides insights into the current understanding of EVs and their potential to revolutionize therapeutic and diagnostic approaches in various disease contexts.1.