Magnetic resonance imaging (MRI) is increasingly being recognized as a valuable tool for the assessment of prostate cancer. In recent years, MRI technology has matured, image acquisition and interpretation have improved, and a multitude of clinical studies have demonstrated the potential of MRI techniques for contributing to prostate cancer care. This review will provide a brief overview of MRI techniques relevant to prostate cancer, including MR spectroscopic imaging, and discuss the ways that they can aid in diagnosis, treatment selection, and post-treatment follow-up.