Microteaching is an innovative educational method that began to be applied almost fifty years ago in teachers’ education and training, with its application subsequently expanding to other professional environments. This paper focuses on the study of the role and application of microteaching and attempts to demonstrate its value and importance mainly concerning candidate and serving teachers’ education and training. This article initially presents the definition, the object, the stages, and the scientific foundation of the method under discussion. Then, general information is provided for the application of microteaching both in Greece and internationally. Finally, the value of microteaching, its importance, and its contribution, especially in teacher education and training, are analyzed and discussed.