The hepatic stellate cell, first described over a century ago, has evolved from a poorly understood cell type to a central player in liver injury and fibrosis. The paradigm of quiescent vitamin A-rich stellate cells transforming into proliferative, contractile, and fibrogenic myofibroblasts has driven significant progress in understanding the mechanisms of hepatic fibrosis. However, recent studies have revealed a broader role for stellate cells in liver development, regeneration, xenobiotic responses, intermediary metabolism, and immunoregulation. Stellate cells are essential for hepatic progenitor cell amplification and differentiation and exhibit remarkable plasticity in their phenotype and functions. They play a crucial role in retinoid storage and metabolism, and their interactions with the extracellular matrix and immune cells are critical in liver homeostasis and disease. The identification of stellate cells as key mediators of hepatic immunoregulation has been particularly surprising, as they can both amplify and modulate inflammatory responses. The complex interactions between stellate cells and other liver cell types, as well as their potential for transdifferentiation, highlight the need for further research to fully understand their role in liver physiology and disease.The hepatic stellate cell, first described over a century ago, has evolved from a poorly understood cell type to a central player in liver injury and fibrosis. The paradigm of quiescent vitamin A-rich stellate cells transforming into proliferative, contractile, and fibrogenic myofibroblasts has driven significant progress in understanding the mechanisms of hepatic fibrosis. However, recent studies have revealed a broader role for stellate cells in liver development, regeneration, xenobiotic responses, intermediary metabolism, and immunoregulation. Stellate cells are essential for hepatic progenitor cell amplification and differentiation and exhibit remarkable plasticity in their phenotype and functions. They play a crucial role in retinoid storage and metabolism, and their interactions with the extracellular matrix and immune cells are critical in liver homeostasis and disease. The identification of stellate cells as key mediators of hepatic immunoregulation has been particularly surprising, as they can both amplify and modulate inflammatory responses. The complex interactions between stellate cells and other liver cell types, as well as their potential for transdifferentiation, highlight the need for further research to fully understand their role in liver physiology and disease.