Heat shock proteins (hsps) assist the assembly, folding and translocation of other proteins, and apparently have a role in protecting cells against injuries and other types of stress. In addition, hsps are frequently recognized by the immune system as predominant antigens during infections and during the progression of certain autoimmune diseases and, thus, might provide a novel route for the development of immunotherapeutics. This review focuses on applications for hsps in health and disease, and discusses the pros and cons of considering them as targets for the development of therapeutics/pharmaceuticals.