Exosomes are nanoscale membranous vesicles secreted by various cell types and are widely present in the microenvironment of the reproductive system, including seminal plasma, epididymal fluid, uterine fluid, follicular fluid, and the placenta. These vesicles deliver bioactive molecules such as mRNAs and microRNAs through ligand-receptor interactions or membrane fusion, thereby mediating intercellular communication. Accumulating evidence indicates that exosomes play critical roles in key reproductive processes, including gamete maturation, embryonic development, and maternal-fetal dialogue. Dysregulation of exosomal functions may contribute to adverse pregnancy outcomes. This article systematically reviews recent advances in the study of exosomes in the field of reproduction, aiming to provide a theoretical foundation and research perspectives for further investigation into the molecular mechanisms by which exosomes regulate reproductive processes.