Corneal disorders, encompassing injuries, infections, and degenerative diseases, are major contributors to visual impairment globally. Conventional procedures, including corneal transplantation and pharmacological treatments, encounter constraints such as donor shortages, rejection risks, and diminished effectiveness in extreme instances. Mesenchymal stem cells (MSCs) have emerged as viable therapeutic alternatives owing to their regeneration potential, immunomodulatory characteristics, and capacity to differentiate into corneal cell types. This study examines the therapeutic potential of MSCs in addressing various corneal illnesses through the analysis of preclinical studies, clinical trials, and current breakthroughs. MSCs facilitate corneal wound healing, diminish scarring, and reinstate transparency via processes including paracrine signaling, extracellular matrix remodeling, and anti-inflammatory actions. Although early-phase clinical trials indicate the safety and feasibility of MSC-based therapeutics, obstacles persist in optimizing delivery techniques, assuring cell viability, and creating uniform protocols. Additional research is necessary to address these issues and validate MSCs as a feasible clinical alternative. This review aims to summarize the therapeutic applications, challenges, and future prospects of mesenchymal stem cells in corneal treatments, emphasizing their importance as emerging alternatives to traditional therapies.