Cardiac magnetic resonance (CMR) is a burgeoning area of noninvasive cardiac imaging. Today, its clinical utility spans from the qualitative and quantitative assessment of cardiac function and morphology to the challenging task of determining the severity and reversibility of coronary heart disease. Advances in magnet and coil design, pulse sequence, and contrast media have contributed greatly, helping CMR become the multipurpose tool of today's cardiac imaging. This article reviews and explores some of the most exciting clinical applications of CMR in the assessment of coronary artery disease.