Nitric oxide (NO) is a gaseous diatomic molecule with a wide variety of physiological and pathological implications in plants. Presence of unpaired electron in its molecular orbital makes it highly reactive; it can react directly with metal complexes, radicals, DNA, proteins, lipids and other biomolecules. Nitric oxide (NO) and reactive oxygen species (ROS) are known to play essential role in a number of important plant physiological processes. This manuscript reviews the role of NO on these processes during various biotic and abiotic stresses.