The application of lipases for the production of monoacylglycerols is reviewed. Glycerolysis or selective hydrolysis of fats and oils, esterification of fatty acids or esters with glycerol, and reactions employing protected glycerols are presented. From the most recent literature, reaction systems ranging from organic solvents to reverse micelles and solid-phase systems, for example, are covered, including examples for the continuous production of partial glycerides.