The technology of the yeast cell surface display, which appeared 20 years ago and was based on the displaying of target proteins on the cell surface via fusion to an abundant cell wall protein finds broad application in basic and applied research. The main advantage of the cell surface display on the basis of eukaryotic microorganisms—yeast—is the opportunity for correct modification of mammalian proteins. The cell surface display is an important tool for the analysis and understanding of protein function and protein–protein interactions and for the screening of novel clones from peptide and protein libraries. This technology makes it possible to obtain cells with novel abilities, such as catalytic functions and affinity binding to valuable ligands, including rare and heavy metals. It provides the chance to use yeast in biotechnology and in bioremediation and biomonitoring of the environment. The review considers the methods of obtaining a cell surface display on the basis of the yeasts Saccharomyces cerevisiae, Pichia pastoris, and Yarrowia lipolytica, the properties of anchor proteins, and the main fields of yeast display technology.