Thyroid cancer is rapidly increasing in incidence, yet the mortality rate remains relatively constant. Given its’ favorable prognosis and great success in treatment of the most common types, it is currently debated, whether the incidence rise should change the way the screening is performed and affect the established treatment guidelines. In this literature review four of the most prominent thyroid gland cancers and their management options are presented; papillary, follicular, medullary and anaplastic carcinomas. The appropriate approach to surgical management for thyroid cancer is discussed, as some researchers advocate partial and others total thyroidectomy. There are advocates of prophylactic central cervical lymph node dissection through radical procedures, whereas other experts recommend lymphadenectomy in only specific cases. Radioactive iodine application in both treatment (ablation) and diagnosis (scanning) are also debated in terms of their specificity, sensitivity, dosage and conjunction with other methods. Chemotherapy is currently actively researched, as the traditional cytotoxic drugs are giving way to newer targeted agents, that promise to both decrease the rates of adverse effects and assist in treatment of poorly differentiated aggressive cancers. For palliation of terminally ill patients and management of distant metastases with unfavorable prognoses external beam radiation is traditionally used and continues to serve as a back-up therapy in cases of iodine-negative tumours. Additionally, follow-up strategies are briefly presented to give an overview of up-to-date research data, that reflects the extent of management success and the improvement in the quality of life.