Chimeric Antigen receptor T cell (CAR-T cell) therapy is a novel adoptive immunotherapy where T lymphocytes are engineered with synthetic receptors known as chimeric antigen receptors (CAR). CARs are engineered and constructed specifically to reprogram a patient’s T cells to target tumor cells. These CARs predominantly are used to treat hematological malignancies including Lymphoma and Multiple Myeloma. Specific targets often used include, CD19, CD20, CD30, and CD138. Although this novel therapy is promising it has its disadvantages. CAR T-cell therapy-associated toxicities, including cytokine release syndrome, on-target/off-tumor, and other neurologic toxicities have been observed and are being properly managed in clinic. In this review, the applications of CAR-T cells in different hematological malignancies, the anatomy and production of CARs, along with future directions are discussed. This technique could pave the way for future improvements on the effectiveness and persistence of adoptive immunologic therapies.