Cytokinin oxidase (EC 1.5.99.12) is an enzyme that catalyzes the irreversible degradation of cytokinin phytohormones that are extremely necessary for growth, development, and differentiation of plants. Cytokinin oxidase plays an important role in the regulation of quantitative level of cytokinins and their distribution in plant tissues. This review generalizes the available information on the structure, properties, and functional role of this enzyme in plant ontogeny under conditions of normal growth and under the influence of unfavorable environmental factors.