MiR-138-5p, as a microRNA, plays an important regulatory role in the pathogenesis of osteoarthritis. It regulates various biological processes such as inflammation, cell apoptosis and proliferation, and matrix degradation in osteoarthritis by modulating signaling pathways including NF-κB, Wnt/β-catenin, and PI3K/AKT. This review summarizes the research progress on the mechanism of miR-138-5p on osteoarthritis.