Most eukaryotes including fungi, amoebas, and animal cells assemble an actin/myosin-based contractile ring during cytokinesis. The majority of proteins implied in ring formation, maturation, and constriction are evolutionarily conserved, suggesting that common mechanisms exist among these divergent eukaryotes. Here, we review the recent advances in positioning and assembly of the actomyosin ring in the fission yeast Schizosaccharomyces pombe, the budding yeast Saccharomyces cerevisiae, and animal cells. In particular, major findings have been made recently in understanding ring formation in genetically tractable S. pombe, revealing a dynamic and robust search, capture, pull, and release mechanism.