Recent innovations in the field of ultrafast MR imaging have increased the robustness of MR cholangiopancreatography (MRCP). Its complete noninvasiveness and flexible physiological approaches in detecting pancreaticobiliary pathologic conditions are gaining the acceptance of many clinicians. The procedure is also safer and more comfortable both for physicians and patients compared with direct pancreatography or cholangiography. Because of its cost effectiveness and safety, optimized MRCP technologies will gradually replace the diagnostic use of endoscopic retrograde cholangiopancreatography (ERCP). It is also notable that MRCP techniques can be used to obtain physiological/dynamic information that ERCP cannot provide. This article addresses recent advances in MRCP from technological and clinical aspects, focusing on its unique features as a hydrographic technique, and also refers to its limitations.