In the present study, the morphological and ultrastructural characteristics of mesenchymal stem cells (MSCs) induced towards osteogenic, adipogenic, and chondrogenic lineages were investigated. The main objective of this paper was to focus on the differentiation capacity of ovine [oMSCs] and equine MSCs [eMSCs]. Bone marrow [BM] MSCs were isolated from ovine and equine patients, expanded in monolayer culture and induced into osteogenic, adipogenic and chondrogenic differentiation. For chondrogenic differentiation, cells were cultured in micromass culture. Also, their ultrastructural phenotypes were studied by transmission electron microscopy [TEM]. This study was aimed to provide an indepth morphological description of BM-derived ovine and equine MSCs induced towards three lineages, it demonstrated that TEM analysis is useful in elucidating detailed structural information.