Bone marrow is a semi-solid tissue found within the spongy (also known as cancellous) portions of bones. In birds and mammals, bone marrow is the primary site of new blood cell production (or haematopoiesis). It is composed of hematopoietic cells, marrow adipose tissue, and supportive stromal cells. In adult humans, bone marrow is primarily located in the ribs, vertebrae, sternum, and bones of the pelvis. Bone marrow comprises approximately 5% of total body mass in healthy adult humans, such that a person weighing 73 kg (161 lbs) will have around 3.7 kg (8 lbs) of bone marrow.

Human marrow produces approximately 500 billion blood cells per day, which join the systemic circulation via permeable vasculature sinusoids within the medullary cavity. All types of hematopoietic cells, including both myeloid and lymphoid lineages, are created in bone marrow; however, lymphoid cells must migrate to other lymphoid organs (e.g. thymus) in order to complete maturation.

Bone marrow transplants can be conducted to treat severe diseases of the bone marrow, including certain forms of cancer such as leukemia. Several types of stem cells are related to bone marrow. Hematopoietic stem cells in the bone marrow can give rise to hematopoietic lineage cells, and mesenchymal stem cells, which can be isolated from the primary culture of bone marrow stroma, can give rise to bone, adipose, and cartilage tissue.

The composition of marrow is dynamic, as the mixture of cellular and non-cellular components (connective tissue) shifts with age and in response to systemic factors. In humans, marrow is colloquially characterized as red bone marrow, or yellow bone marrow (Latin: medulla ossium rubra, Latin: medulla ossium flava, respectively) depending on the prevalence of hematopoietic cells vs fat cells. While the precise mechanisms underlying marrow regulation are not understood, compositional changes occur according to stereotypical patterns. For example, a newborn baby's bones exclusively contain hematopoietically active red marrow, and there is a progressive conversion towards yellow marrow with age. In adults, red marrow is found mainly in the central skeleton, such as the pelvis, sternum, cranium, ribs, vertebrae and scapulae, and variably found in the proximal epiphyseal ends of long bones such as the femur and humerus. In circumstances of chronic hypoxia, the body can convert yellow marrow back to red marrow to increase blood cell production.

At the cellular level, the main functional component of bone marrow includes the progenitor cells which are destined to mature into blood and lymphoid cells. Human marrow produces approximately 500 billion blood cells per day. Marrow contains hematopoietic stem cells which give rise to the three classes of blood cells that are found in circulation: white blood cells (leukocytes), red blood cells (erythrocytes), and platelets (thrombocytes).

The stroma of the bone marrow includes all tissue not directly involved in its primary function of hematopoiesis. Stromal cells support hematopoiesis indirectly by providing a specialized microenvironment that influences the function and differentiation of hematopoietic cells. For example, they produce colony-stimulating factors, which play a significant role in regulating blood cell formation.

Cell types that constitute the bone marrow stroma include:

That bone marrow is a priming site for T-cell responses to blood-borne antigens was first described in 2003. Mature circulating naïve T cells home to bone marrow sinuses after they have passed through arteries and arterioles. They transmigrate sinus endothelium and enter the parenchyma which contains dendritic cells (DCs). These have a capacity of antigen uptake, processing, and presentation. Cognate interactions between antigen-specific T cells and antigen-presenting DCs (APCs) in parenchyma lead to rapid T-APC cluster formation followed by T cell activation, T cell proliferation and T cell re-circulation to blood. These findings were corroborated and extended in 2013 by in situ two-photon dynamic imaging of mice skulls.