Contrast-enhanced magnetic resonance imaging (CE-MRI) has become an essential modality in breast cancer diagnosis and management. It is particularly used for locoregional staging, high-risk screening, monitoring treatment response, and assessing complications related to breast implants. The integration of gadolinium-based contrast agents (GBCAs) enhances the sensitivity and specificity of CE-MRI by providing detailed morphological and functional insights, particularly highlighting tumor neoangiogenesis. Despite its advantages, CE-MRI faces challenges such as high costs, limited accessibility, and concerns about gadolinium retention in tissues, prompting ongoing research into safer, high-relaxivity contrast agents like gadopiclenol. Advances in multiparametric imaging, including dynamic contrast-enhanced sequences and diffusion-weighted imaging, have refined diagnostic accuracy, enabling precise staging, and treatment planning. The introduction of abbreviated breast MRI (AB-MRI) protocols offers a promising solution to barriers of cost and scan duration, maintaining diagnostic efficacy while improving patient accessibility and comfort. Future innovations in contrast agents, imaging protocols, and patient-centered approaches hold the potential to further enhance the utility of breast MRI, ensuring equitable and effective application in global healthcare systems.