Recent progress in the chemical synthesis of novel aliphatic polyesters via ring-opening polymerization of functional cyclic (di)esters are reviewed in this article. Syntheses of these functional aliphatic polyesters are being classified into three groups according to the structure of the cyclic monomers: (i) cyclic diesters, (ii) morpholine 2.5-dione derivatives, and (iii) cyclic esters. Progress in the synthesis and polymerization of monomers in each category is reported with an emphasis on controlled synthesis. The recent achievements have enabled the synthesis of a variety of novel aliphatic polyesters, including hydrophilic, halogenated, and unsaturated polyesters.