Microbial fibrinolytic proteases are of considerable interest in view of their specific activity and stability at biological pH. This review describes different isolation methods which enable the screening and selection of promising organisms for industrial production. Further, strain improvement using mutagenesis and/or recombinant DNA technology can be applied to augment the efficiency of the producer strain to a commercial status. The various nutritional and environmental parameters affecting the production of fibrinolytic proteases are delineated. The purification and properties of these fibrinolytic proteases is discussed, and the use of fibrinolytic proteases is highlighted.