Lipids or Fats Play a Vital Role In Development and Day to Day Functioning of Human Body. Cholesterol, Triglycerides and Lipoproteins Have Many Roles In Different Vital Functions and Activities of the Body. Cholesterol and Triglycerides Are an Important Classes and Precursors of Fat Present In Body. Lipoproteins Derived from Varied Concentrations of Both Cholesterol and Triglycerides Are Also an Important Component In Lipid Studies. Lipoproteins Are Hydrophilic In Nature and Possess Surface Proteins Called Apoproteins and Can Be Classified Depending on Ratio of Cholesterol and Triglycerides. Lipid Disorders Are Very Common In Today’S Life and Potential Factors Such As Lifestyle, Certain Medications, Diseases Including Genetic Disorders and Ageing Causing Increasing Cases of Lipid Disorders. This Review Deals With Roles and Necessity of These Lipids In Different Body Functions, Different Types of Lipids and Their Critical Balances. Imbalances of Lipids Lead to Many Complications and If Not Handled In Time Can Be Lethal.