The heart cell therapy using stem cells has emerged as a potential treatment modality for ischemic cardiomyopathy. More than a decade long experimental animal studies and clinical trials have shown the safety and feasibility of this approach. The strategy is based on the principle to supplement the inadequate intrinsic repair mechanism of the heart through stem cell transplantation. The transplanted cells undergo milieu dependent myogenic differentiation to compensate for the colossal cardiomyocyte loss resulting from ischemic injury with resultant reduction in infarct size, attenuated left ventricular remodeling and preserved global cardiac function. More recent studies have shown that in vitro manipulation of stem cells to achieve angiogenesis augments their therapeutic potential for better prognosis via improved regional blood flow in the infarcted myocardium. This review summarizes our current knowledge about combined angiomyogenic approach using stem cells for myocardial repair.