Obesity, insulin resistance, and type 2 diabetes are associated with elevated concentration of circulating free fatty acid (FFA), which is critically governed by the process of triglyceride lipolysis in adipocytes. Endogenous and exogenous glucocorticoids excess could induce insulin resistance and diabetes. Thus, the effects of glucocorticoids stimulating adipose lipolysis and elevating FFA release may contribute to glucocorticoids-induced insulin resistance and diabetes. This review focuses on the regulation and function of glucocorticoids in adipose lipolysis and metabolism.