Hematologic malignancies like leukemia, lymphoma, and multiple myeloma affect blood, bone marrow, and lymphatic systems. These cancers differ significantly in pathology, with leukemia involving abnormal white blood cell production, lymphoma targeting lymphocytes, and multiple myeloma impacting plasma cells. Breakthroughs in treatment, such as CAR T-cell therapy, monoclonal antibodies, and proteasome inhibitors, have transformed patient outcomes. Early diagnosis through blood tests, bone marrow biopsies, and imaging is critical for effective treatment. Despite advancements, challenges such as disease relapse and side effects of therapies necessitate continued research. Personalized approaches, leveraging molecular profiling, are paving the way for targeted interventions, improving prognosis and quality of life for patients.