Migrasomes are newly-discovered cellular organelle which are generated during cell migration and released from cells as extracellular vesicles (EVs), first described in 2015. Cellular contents are actively transported to migrasomes and released into extracellular space, then are taken up by other cells. Thus, migrasomes are proposed as a new mechanism for cell-cell communications, which show remarkable resemblance to exosomes, another classic EVs. The properties of exosomes in regulating intracellular communication have advanced their potential value in the therapeutic control of multiple diseases such as neurodegenerative conditions and cancer. Moreover, acting as potential biomarkers of various diseases, exosomes can be potentially valuable for diagnosis and assessment of the prognosis of patients with cancer or other diseases. Migrasomes are similar to exosomes in many characteristics. For instance, migrasomes can also mediate the lateral or horizontal transfer of materials among cells. On the other hand, although it is poorly understood, migrasomes show their own properties in normal cell physiology and disease. This review primarily summarizes recent advances in our understanding of the similarities and differences of migrasomes and exosomes in biogenesis, contents, and physiological and pathological effects on organisms, which may help us to have a better understanding of various types of EVs. This article aims to review of the roles of the specialized extracellular vesicles, migrasomes, and exosomes in normal cell physiology and disease.