Telomere shortening and telomerase deficiency have been linked with several age related degenerative diseases. Moreover, degenerative changes in various tissues/organs have been attributed to derangement of stem cell functions causing regenerative tragedy. Bone marrow stromal cells (BMSCs) are considered the ideal candidates for regenerative approaches owing to their beneficial effects in numerous clinical applications. Thus, the effect of telomerase deficiency in perpetrating age related changes in BMSC functions during in vitro culture; their morphology, proliferation and differentiation, that can be extrapolated and reasoned for skeletal aging is conversed in this review. Besides, information regarding pertinent molecular and biochemical markers that can be employed to examine the earliest events, during the course of BMSC aging, is also provided. Additionally, impact of telomerase deficiency in enacting skeletal aging phenotype and its associated microenvironment is also discussed. In the end, further studies, using tissue specific models of telomerase deficiency, are recommended as a future research strategy to advance our understanding of tissue specific telomerase regulation.