IL27, a member of IL12/IL23 heterodimeric family of cytokines, has pleiotropic properties that can enhance or limit immune responses. IL27 is a heterodimeric cytokine composed of two subunits: IL27a and IL27b. IL27 acts on various cell types, including T cells, B cells, macrophages, dendritic cells, natural killer (NK) cells and non-hematopoietic cells. IL27 plays a critical role in the early regulation of T helper type 1 initiation, and enhances proliferation of naive CD4+T cells and naive B cells. It, however, also exerts anti-inflammatory functions by inhibiting the development of Th17 cells and inducing IL10 producing type 1 regulatory T cells. IL27 is a potentially promising cytokine for therapeutic approaches on various human diseases.