Therapeutic options for patients with myeloma are a rapidly advancing area of research due in part to an increase in the understanding of myeloma biology as well as the development of novels agents. Proteasome inhibition is a novel modality for the treatment of patients with myeloma. Bortezomib, a novel proteasome inhibitor, was effective in a broad range of tumor cell lines in preclinical testing. In phase I trials, bortezomib was noted to be active in patients with multiple myeloma and lymphoma. This led to several multicenter trials confirming the safety and efficacy of bortezomib for patients with relapsed and refractory myeloma. Most recently, a large randomized phase III trial comparing bortezomib with high-dose dexamethasone demonstrated that bortezomib had an improved response rate, duration of remission and overall survival advantage in the setting of relapsed disease. These findings have led investigators to study proteasome inhibition with conventional chemotherapy and other novel agents. In addition, several recently completed and ongoing studies are evaluating the role of bortezomib in the initial treatment of myeloma. The success of proteasome inhibition in the treatment of myeloma is a model for effective translation of preclinical research into tangible clinical benefits for patients with cancer.