Mitochondrial dynamics, including fusion and fission, play a crucial role in regulating mitochondrial function and cellular homeostasis by allowing mitochondria to adapt to changing cellular conditions. Fusion helps to maintain mitochondrial function by combining the contents of damaged mitochondria, while fission allows for the removal of damaged or dysfunctional mitochondria through mitophagy. This process helps to maintain mitochondrial quality and prevent the accumulation of damaged mitochondria.