Over the past decades, cardiovascular mortality among individuals with diabetes has progressively declined; however, cardiovascular disease remains the leading cause of morbidity and mortality in this population. Effective control of low-density lipoprotein cholesterol (LDL-C) therefore remains a cornerstone of cardiovascular prevention in patients with diabetes. The introduction of novel lipid-lowering therapies has renewed the debate on the current role of statins, raising questions about their relevance, clinical efficacy, and long-term safety. This narrative review critically examines these aspects in the context of contemporary evidence and clinical practice. Data from randomized controlled trials, large meta-analyses, genetic studies, and real-world evidence consistently demonstrate that LDL-C reduction achieved with statins is associated with a substantial reduction in cardiovascular risk, with comparable relative benefit in individuals with and without diabetes. Given the higher absolute cardiovascular risk in patients with diabetes, statin therapy translates into a particularly meaningful absolute risk reduction. The safety profile of statins is overall favorable. Most adverse events are infrequent and manageable, and the modest increase in incident diabetes observed in selected populations is largely outweighed by the cardiovascular benefit. Importantly, the widespread failure to achieve recommended LDL-C targets in clinical practice should not be interpreted as a limitation of statins themselves, but rather as a consequence of suboptimal treatment intensity, therapeutic inertia, and delayed use of combination therapy. In the era of novel lipid-lowering agents, statins remain the foundation of a modern, integrated, and patient-centered strategy for cardiovascular risk reduction in diabetes.