Abstract: The coronavirus disease 2019 (COVID-19) is highly infectious, and the mortality of severe patients with the novel coronavirus pneumonia is high. Its pathogenesis is still unclear, and there is a lack of specific treatment method. The cytokine storm and imbalance of immune response may be the pathophysiological basis of acute respiratory distress syndrome (ARDS), multiple organ failure (MOF) and even death for the novel coronavirus pneumonia. Mesenchymal stem cells (MSC) has shown initial efficacy and clinical prospect in the treatment of severe patients by the immune regulation, tissue repair and anti-fibrosis properties. This article reviews the potential pathogenic mechanism of the COVID-19, the possible mechanism and application of MSC in the treatment of the COVID-19, which will provide reference for clinical treatment.