Refractive surgery is a field in constant evolution. In recent years, a new procedure has appeared under the name SMILE (SMall Incision Lenticule Extraction). This technique, carried out solely with a femtosecond laser, should make it possible to better preserve corneal innervation and biomechanics. After a detailed review of the technique itself, we then focus on the scientific evidence for the safety and efficacy of SMILE and its current indications. Advantages of SMILE will be discussed in comparison to the conventional techniques, particularly concerning dry eye and the risk of corneal ectasia related to LASIK. Lastly, the current limitations of SMILE (indications, retreatment) are discussed, and future applications are considered regarding new improvements in the technique.