Diabetic micro- and macroangiopathies are leading causes of acquired blindness, end-stage renal failure and accelerated atherosclerosis, which could account for disabilities and high mortality rates in patients with diabetes. Recent large landmark clinical studies have shown that intensive control of blood glucose or blood pressure (BP) reduces the risk for vascular complications in diabetes. However, the strict control of blood glucose or BP is often difficult to maintain, and current therapeutic options are far from satisfactory. Therefore, to develop novel therapeutic strategies that specifically target vascular complications in diabetes may be actually desired for most patients with diabetes. Pigment epithelium-derived factor (PEDF) is a glycoprotein that belongs to the superfamily of serine protease inhibitors with complex neurotrophic, neuroprotective, anti-angiogenic, anti-oxidative, and anti-inflammatory properties, any of which could potentially be exploited as a therapeutic option for the treatment of vascular complications in diabetes. This article summarizes the pathophysiological role of PEDF for vascular complication in diabetes and its potential therapeutic implication in this devastating disorder.