Just recently, use of magnetic resonance imaging for thoracic investigations has become increasingly appealing. This resurgence has been triggered by the enormous improvements in image quality with the development of scanners with faster data-acquisition capabilities and the routine use of contrast agents. In particular, magnetic resonance pulmonary angiography, an examination that once had been hampered by blurring from respiratory and cardiac motion and magnetic-susceptibility-related signal loss, has become a robust technique in this scenario. Initial efforts and current trends are reviewed, focusing on fast imaging protocols employing contrast agents that have provided exquisite images of the pulmonary vasculature. In addition, the recent introduction of magnetic resonance lung perfusion and ventilation scans has made available new potential methods for characterization of diseases that, combined with magnetic resonance pulmonary angiography, may provide for the first time the practical approach for the diagnosis of difficult conditions such as pulmonary embolism that has long been awaited.