This review analyzes the role of cutinases in nature and their potential biotechnological applications. The cloning and expression of a fungal cutinase, Fusarium solani f. pisi, in Escherichia coli and Saccharomyces cerevisiae hosts are described. The three-dimensional structure of this cutinase is also analyzed and its function as a lipase is discussed and compared with other lipases. The biocatalytic applications of cutinase are described taking into account the preparation of different cutinase forms and the media in which the different types of reactions have been performed, namely hydrolysis, esterification, transesterification, and resolution of racemic mixtures. The stability of cutinase preparations is discussed and, in particular, the cutinase stability in anionic reversed micelles is analyzed considering the role of hexanol as a substrate, a cosurfactant, and a stabilizer. Process development, based on the operation of cutinase reactors, is also reviewed.