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Synthetic biology begins with the underlying assumption that life and life forms can be divided into parts and reassembled or redesigned according to the whims of their creators. Therefore, synthetic biology needs to be at the centre of ethical thinking since it engages the very concept of life and radically changes it. In this paper, we will investigate the phenomenon of synthetic biology through an ethical analysis of the unfulfilled promises and potential perils surrounding this technology. The paper consists of four parts. In the first part, we will deal with the problem of defining synthetic biology since it is a field in which many scientific disciplines meet and intertwine. The second part will present a brief history of systemic biology and the groundbreaking creation of Synthia, the first synthetic organism. The third part focuses on synthetic biology's potential benefits and some prominent ethical issues. In the fourth part, we will point out the problem of synthetic biology regulation. In conclusion, we will highlight the essential ethical remarks on synthetic biology and provide the impetus for further ethical debate.