Diabetic foot ulcers are a common problem in clinical practice and one of the most common complications in diabetic patients, often leading to amputation and hospitalization. Although there are a number of options for coadjuvant therapy for diabetic foot ulcers, a considerable number of patients remain unhealed after 12 weeks of treatment and, in general, rates of healing remain low. For these reasons, as well as the rising costs of associated complications of nonhealing diabetic foot ulcers, there is an impetus for the research community to develop more sophisticated ways to manage this condition. We reviewed ongoing clinical trials (clinicaltrials.gov) testing new therapies for foot ulcers and searched the basic science literature for preclinical background of these products. We focused our review on new therapies that include topicals, skin substitutes, bioengineered skin, cellular therapy growth factors, devices, and herbal medications. All of these options are analyzed and presented in this review as promising new options for the treatment of diabetic foot ulcers.