Alzheimer’ s disease (AD) is a neurodegenerative disorder characterized by impairment of cognitive memory. The clinical treatment of AD is currently dominated by a few drugs; however, these drugs can only be applied to relieve symptoms without slowing or stopping the progression of AD. Moreover, these drugs have weaker effects in patients with advanced AD. Stem cell therapy is recognized as a promising approach for AD therapy because of the self-renewal and multi-directional differentiation ability of stem cells. As the first described mesenchymal stem cells, bone marrow mesenchymal stem cells ( BM-MSCs) are reported to easily expand in the in vitro condition, readily differentiate into neuron-like cells, and contribute to immunomodulation and microenvironment remodeling by producing abundant immunomodulatory molecules. All of these properties endow BM-MSCs a potentially significant role in the clinical treatmen of AD. This paper summarizes the current information about the application of BM-MSCs in AD treatment, including direct transplantation of BM-MSCs, transplantation of genetically modified BM-MSCs, and injection of BM-MSC-derived exosomes. The therapeutic effects and underlying mechanisms as well as the advantages and disadvantages of BM-MSCs in AD treatment are also discussed to provide fundamental support for the future clinical application of BM-MSCs.