MicroRNAs (miRNAs) are small noncoding RNA molecules ∼22 nucleotides in length that can post-transcriptionally repress gene expression. MiRNAs bind to their target messenger RNAs (mRNAs), leading to mRNA degradation or suppression of translation. miRNAs have recently been shown to play pivotal roles in skin development and are linked to various skin pathologies, cancer, and wound healing. Chronic wounds represent a major health burden and drain on resources and developing more effective treatments is therefore a necessity. Increase in the understanding of the regulation of chronic wound biology is therefore required to develop newer therapies. This review focuses on the role of miRNAs in cutaneous biology, the various methods of miRNA modulation, and the therapeutic opportunities in treatment of skin diseases and wound healing.