Storytelling is an activity that enriches a child's life, enabling them to explore the world, others, and themselves. In today's fast-paced and time-constrained lifestyle, both parents and educators often find themselves caught in a cycle of busyness. Storytelling offers both parents and children a chance to escape the rush of the real world and enter a special, carefree, and imaginative realm of stories and fairy tales. This paper analyzes the importance, methods, and potential of storytelling within the educational process. It stresses that storytelling should be a means of fostering meaningful relationships, not just a duty that the storyteller has towards the child. The paper starts by defining storytelling and its various types. It then underscores the significance of storytelling for a child's overall development (cognitive, socio-emotional, language, and moral). Special attention is given to storytelling techniques and the quality of content selection. Additionally, the paper touches on the therapeutic effects of stories, which help children better understand the challenges of the adult world. The importance of storytelling in early childhood and preschool education practices, as well as the crucial role of educators in its implementation, is also emphasised.