Mitral regurgitation (MR) is one of the most prevalent valvular heart diseases worldwide, significantly impacting morbidity and mortality. Surgical mitral valve repair remains the gold standard for treating severe MR, but a large subset of patients are not surgical candidates due to comorbidities and increased surgical risks. Percutaneous mitral valve repair (PMVR), particularly with the MitraClip device, has emerged as a less invasive alternative, offering hope to high-risk patients. Despite its successes, PMVR faces challenges, including patient selection, residual MR, and long-term durability. This article reviews the current landscape of PMVR, its clinical outcomes, and ongoing challenges.