MicroRNAs (miRNAs) are small non-coding RNAs (ncRNAs) that regulate the expression of their target mRNAs post-transcriptionally. Since their discovery, thousands of highly conserved miRNAs have been identified and investigated for their role in human health and diseases. MiR-214 has been increasingly reported to have an association with the regulation of bone metabolism. Reports suggested that miR-214 controls the critical aspects of osteoblasts (bone-forming cells), including their differentiation, proliferation, viability, and migration. Studies have also reported the functional significance of miR-214 in bone diseases and suggested its candidature as a diagnostic and therapeutic target. Further, targeting miR-214 by other ncRNAs, such as linear ncRNAs and circular RNAs, has provided novel insights into treating bone diseases. This review briefly discusses the contemporary findings of the physiological and pathological roles of miR-214 in bone turnover. In addition, we highlight the important ncRNA/mRNA/miR-214 axes influencing osteoblast differentiation that are of therapeutic importance for the treatment of bone-related diseases.