Plant cell factories constitute an alternative source of high added value phytochemicals such as the anticancer drug taxol (generic name paclitaxel), biosynthesized in Taxus spp. The growing demand for taxol and its derivatives, due to a specific action mechanism and the scarcity of the taxane ring in nature, has made this group of compounds one of the most interesting targets for biotechnological production. This review is focused on recent advances in the production of taxol and related taxanes in Taxus baccata, the taxol-producing European yew, using cell suspension culture technology. The review contains a brief description of the botany and phytochemistry of T. baccata, as well as the chemical structure of taxol and the molecular requirements for its anticancer effects. 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