Crop productivity depends heavily on several biotic and abiotic factors. Plant annexins are a multigene family of calcium-dependent phospholipid-binding proteins that function in response to environmental stresses and signaling during growth and development of plants. We recently isolated and characterized a annexin, called , which is upregulated by different abiotic stresses. Overexpression of in transgenic tobacco improves stress tolerance through ROS removal. This mini-review outlines the functional characterization of plant annexin genes and suggests how these features could be exploitated to improve stress tolerance in plants. Furthermore, transgenic overexpression of plant annexin genes in crops (tobacco, tomato, rice, alfalfa, cotton, and potato) will be discussed as a promising approach to acquire abiotic and biotic stress tolerance.