Lily, belonging to the genus Lilium (Family: Liliaceae), is one of six major genera of flower bulbs produced worldwide. It is a most important cut flower. The genus Lilium comprises of a large number of species, which can be found in temperate regions of the northern hemisphere. The majority of the cultivated lilies are either hybrids or selections. Liliums are grown in border, beds, pots and are excellent cut flowers. Certain species of Lilium are edible. Bulbs of the tiger lily (L. tigrinum) are very tasty and are consumed in China. Flowers of L. candidum contain an alkaloid lanoline. Many species are valued for their medicinal properties also. The Asiatic hybrids, which feature upward-facing flowers, have been the focus of the majority of breeding efforts worldwide. Modern varieties of mixed strains are called hybrid lilies. The wild lily usually reproduces by seed. The development of the assortment and the important steps herein from the first diploid Asiatic hybrids to the wide variety of intersectional polyploid hybrids that are available now or within the near future is described. The characteristics of the most widely grown cultivars will be presented.