Acute myeloid leukemia (AML) is a group of diseases that are very heterogeneous with regard to cytogenetic aberrations, gene mutations, and changes in expression of numerous genes. A new class of genes known as microRNAs recently was found to be involved in myeloid leukemogenesis. These genes are transcribed into regulatory, noncoding RNAs that control mRNA and protein expression of target genes. Genome-wide analyses of microRNA expression have revealed signatures associated with selected cytogenetic and molecular subsets of AML and have led to the recognition of previously unreported molecular pathways involved in myeloid leukemogenesis. In cytogenetically normal AML, microRNA-expression profiling has also provided prognostic information in addition to that obtained from cytogenetics and analyses of gene mutations and aberrant gene expression. This article reviews recent studies that were focused on the alterations of microRNA expression in AML and their diagnostic and prognostic significance.