Abstract The plasma membrane of eukaryotic organisms is compartmentalized into microdomains. The budding yeast Saccharomyces cerevisiae presents three laterally distinct microdomains: membrane compartment containing Can1 (MCC), membrane compartment containing Pma1 (MCP), and membrane compartment containing Tor2 (MCT). Tor2 and its corresponding protein complex, target of rapamycin complex 2 (TORC2), has been of particular interest in recent years. Tor2, the main organizer of TORC2, is a highly conserved kinase that has proved to be an important regulator of multiple cellular functions including cell growth, actin polymerization, endocytosis, and sphingolipid synthesis. Despite significant advancements, the full understanding of the Tor2 signaling networks is incomplete. Here we review the most compelling evidences for the function and physiological significance of Tor2, as well as discuss possible implications and explanations for observed phenomena.