Aquaporins are ubiquitous membrane channel proteins that facilitate and regulate the permeation of water across biological membranes. Aquaporins are members of the MIP family and some of them seem to be also able to transport other molecules such as urea or glycerol. In the plant kingdom, a single plant expresses a considerably large number of MIP homologues. These homologues can be subdivided into four groups (PIP, TIP, NIP, SIP) with highly conserved amino acid sequences and intron positions in each group. Since their discovery, advancing knowledge of their structure led to an understanding of the basic features of the water transport mechanism. An optimal water balance is essential to the homeostasis of most organisms, and aquaporins may be one of the mechanisms involved under changing environmental and developmental conditions. In fact, this may be one reason for the abundance and diversity of aquaporins, in particular in plants. In addition, exposure to different types of stress alters water relations and thus, aquaporins may be involved in stress responses as well. The transcriptional and/or post-translational regulation of aquaporins would determine changes in membrane water permeability. Both phosphorylation and translocation to/from vesicles have been reported as post-translational mechanisms. However, translocation in plants has not yet been shown. Although significant advances have been achieved, complete understanding of aquaporin function and regulation remains elusive.