Cryopreservation is a practical and effective technique for the long-term (>5 years) storage of plant genetic resources at the ultralow temperature of liquid nitrogen (−196 °C; LN). To date, cryopreservation protocols have been developed for various organs and tissues of many plant species, including those from the earliest stages of plant development, i.e., zygotic embryos, embryogenic axes, embryogenic tissues, and somatic embryos. Since zygotic embryos and somatic tissues originate from different sources (ex vitro vs. in vitro), distinct approaches are needed when cryopreservation protocols are developed, depending on their physiological and anatomical characteristics. Effective procedures have been developed for this type of plant material via a wide range of techniques, such as desiccation, controlled slow cooling, vitrification, encapsulation−vitrification, droplet−vitrification, and the cryo−plate method. Currently, cryopreservation is mainly used for storing germplasms of nonwoody plants and a restricted number of tree species. The main limitations of this technique include the need to modify procedures to adapt them to individual plant species and even specific genotypes, as well as the need for specialized facilities and expertise. Therefore, special efforts should be directed toward developing cryopreservation protocols for both in vivo-sourced explants and in vitro cultures. Advancing climate change is increasing the urgency of securing biodiversity through more efficient biotechnological techniques. Moreover, advances in micropropagation techniques, when combined with cryopreservation, are creating new opportunities to protect valuable plant genotypes.