Assessment of oocyte morphology is a difficult task, since underlying mechanisms that change the appearance of the oocyte are multifactorial and complex. Significant morphological variations are known to exist among oocytes that may affect the developmental competence and implantation potential of the derived embryo. Morphological variations of the oocyte may result from intrinsic factors such as age and genetic defects or extrinsic factors such as stimulation protocols, culture conditions, and nutrition. The effect of these morphological variations of the oocyte on embryo development and implantation, however, is not conclusively defined because of methodological flaws inherent to most of the studies in the literature. This review will mainly discuss morphological markers of oocyte quality/viability in relation to the oocyte morphology and attempt to clarify whether morphological evaluation of the oocyte can be utilized for predicting the implantation potential of the derived embryo.