The yeast species of the genus Rhodotorula are ubiquitous in the human environment. Until recently, they have been mainly perceived as saprophytes, which spoil or contaminate food products. However, owing to many new options discovered by scientists of using them, they could be supposed to become a significant group of micro-organisms in the future. In this paper, some directions of using yeast of the genus Rhodotorula are presented. Carotenoids, exopolysaccharides, and enzymes produced by the biomass of Rhodotorula strain can be applied in many industrial fields. While assessing the usefulness of yeast, another more important aspect is considered, namely, the utilization of their cell biomass in the processes of binding metal ions or in biodegradation of waste/refuse.