This document summarizes lipids that are important physiologically and their roles in health and disease. It discusses major lipids like fatty acids, triglycerides, phospholipids, sterols, and lipoproteins. Specific fatty acids like saturated, unsaturated, omega-3 and omega-6 are explained. The roles of lipids in brain development, cancer prevention and various lipid-related disorders are highlighted. Atherosclerosis and its pathological progression are also diagrammatically represented.