Cardiac stem cell based therapy is a promising therapy for patients with severe heart failure. Many types of stem cells, such as embryonic stem cells, myoblasts, marrow-derived mesenchymal stem cells, circulating endothelial progenitor cells, and cardiac precursor cells etc, are known as cellular sources for cardiac stem cell therapy. Both in the clinical and experimental setting, stem cells are reported, and supposed, to cause some arrhythmogenic adverse effects. In order to overcome these serious adverse effects, it is necessary to know the electrophysiological properties of stem cell-derived cardiomyocytes, and have a profound insight into the mechanisms of arrhythmia to know whether such arrhythmogenic properties of the cells can cause serious arrhythmia in situ. In the present study, recent publications that focus on the electrophysiological aspect of stem cell based therapy are reviewed and, furthermore, a new perspective on cardiac stem cell therapy of arrhythmias is given.