Dynamic contrast-enhanced MRI has been proven to be a valuable technique in cancer imaging. The poorly formed and leaky vessels formed during angiogenesis to supply tumors facilitate an increased uptake of intravenously administered contrast agents in comparison to normal vasculature. The use of mathematical modeling techniques on the change in tumor signal intensity as a function of time provides a valuable insight into the underlying microvasculature of tumors. As an area of active research, the imaging and modeling of dynamic contrast-enhanced MRI data has many challenges. Novel contrast agents and models contribute to a refining of the technique and its application as a diagnostic tool in cancer imaging.