Eukaryotic cells employ organellar compartmentalization to increase efficiency of cellular processes and protect cellular components from harmful products, such as reactive oxygen species. Peroxisomes are organelles that sequester diverse oxidative reactions and play important roles in metabolism, reactive oxygen species detoxification, and signaling. Oxidative pathways housed in peroxisomes include fatty acid β-oxidation, which contributes to embryogenesis, seedling growth, and stomatal opening. Other peroxisomal enzymes enable photorespiration, which increases photosynthetic efficiency. Peroxisomes contribute to the synthesis of critical signaling molecules including the jasmonic acid, auxin, and salicylic acid phytohormones. Peroxisomes lack DNA; peroxisomal proteins are encoded in nuclear DNA and posttranslationally enter the organelle. Recent studies have begun to fill gaps in our understanding of how peroxisomal proteins are imported, regulated, and degraded. Despite this progress, much remains to be learned about how peroxisomes originate from the ER, divide, and are degraded through pexophagy, a form of organelle-specific autophagy. Peroxisomes play vital roles in multiple aspects of plant life, and in this review, we highlight recent advances in our understanding of plant peroxisome functions, biogenesis, and dynamics, while pointing out areas where additional studies are needed.