Platelet-rich plasma (PRP) is a growing and robust therapeutic option in musculoskeletal medicine. PRP is a preparation of autologous plasma enriched with a platelet concentration above that normally contained in whole blood. The rationale for use and therapeutic potential of a high concentration of platelets is based on their capacity to supply supraphysiologic amounts of essential growth factors to provide a regenerative stimulus that promotes repair in tissues with low healing potential. This article reviews the latest basic science on PRP, clinical evidence for its use in musculoskeletal medicine, limitations in current knowledge, and critical areas for future research.