A novel non-transmissible pandemic obesity has escalated the incidence rate of diabetes in present world population. Both T1D and T2D are associated with considerably accelerated rates of multiple microvascular as well as macrovascular complications. Diabetic retinopathy is one of the most debilitating chronic impediments, although the exact mechanism(s) responsible for how retina is damaged in diabetes remains unclear. Although the key risk factors contributing to these complications like hyperglycemia, hyperlipidemia, advanced glycation end products, growth factors and inflammatory molecules are well-identified, the currently available therapies are not completely efficacious. Therefore there is an imperative requirement for a better elucidation of the molecular machinery underlying the high incidence of diabetic complications in order to identify newer therapeutic and prognostic markers. MicroRNAs are short non-coding RNAs that can repress target gene expression via post-transcriptional mechanisms and involved in a number of biological processes, including the pathogenesis of diseases. Easily detectable and consistent alterations in microRNA levels in body fluids of the patients due to hyperglycemia-induced epigenetic alterations of metabolic events make them an attractive candidate for early diagnosis prior to clinical manifestation of disease. Also, a number of such microRNAs exhibit therapeutic potential enhancing the provision for improved management of diabetes and associated complications like DR. Herein, the role of microRNAs in the pathobiology of diabetic retinopathy has been elaborated considering their possible utilization as biomarkers and therapeutic targets.