Interventional MRI is in its early stages of development. Nevertheless, the design of new interventional MRI scanners that allow maximum direct access to the patient combined with the development of new interventional MRI pulse sequences and localization systems, means that the archetypal operating rooms of the 21st century may well contain dedicated interventional MRI units for combined radiological and surgical procedures. The present article looks at the state of interventional MRI today and looks ahead to what may be forthcoming in the not-too-distant future. After briefly discussing the instrumentation necessary for practical interventional MRI, the article will go on to describe a number of different approaches to, and clinical applications for, interventional MRI. The use of MRI in guiding and controlling tumor ablation, aspiration cytology and surgical biopsy of different body parts is described.