In the last three decades, polyphosphazene-based scaffolds have emerged as one of the most promising contenders for bone regeneration. Inorganic-organic hybrid polyphosphazene polymers offer a unique combination of properties such as synthetic flexibility, controlled complete degradation into amphoteric by-products, in vitro and in vivo biocompatibility, unique degradation behavior promoting cell proliferation, and tunable physical and chemical properties. This chapter gives a brief overview of the advances made in bone tissue regeneration using polyphosphazene based scaffolds.