Arnica montana L. (Asteraceae) is a valuable medicinal plant with anti-inflammatory and cicatrizing properties attributed to the sesquiterpene lactones, flavonoids and essential oil produced in the flower heads. In many European countries, the populations of A. montana are close to extinction in their natural habitats because of uncontrolled eradication and indiscriminate collection of the plants. Various approaches for in vitro propagation of the species and also, biosynthesis of secondary metabolites in tissue and cell cultures are assessed in the current review. Special attention is paid to the biological activity and chemical composition of compounds produced by the species as well as the opportunities of in vitro methods to isolate high-productive clones. The influence of different factors on the micropropagation, callusogenesis, genetic transformation and identification of certain biologically active substances is discussed in detail. By the reference to the available issues we concluded that biotechnology applied to A. montana cultivation may improved the plant preservation and increased the production of sesquiterpene lactones and other secondary metabolites.