This paper presents the data on the prevalence of molluscum contagiosum in the overall population and among children, as well as the age distribution of pediatric patients having this infection. The causes of the disease, the routes of infection transmission, and the factors triggering the onset and development of the infectious process are discussed. The features of its clinical presentation, lesion location, and the disease course in children are reported. Light is shed on the main methods used to diagnose molluscum contagiosum. The key trends in preventing the spread of infection among children are identified, and different treatment strategies are characterized. The management approaches depending on patient’s age and lesion location are presented. The tolerability and safety of mechanical, chemical, and combined methods for the destruction of molluscum contagiosum in children are evaluated. The top priorities in treatment of the viral infection are identified: they involve designing novel safe methods that can be widely used in pediatric practice. The case studies focusing on application of ammonium glycyrrhizinate in patients aged 4—6 years with molluscum contagiosum are summarized. The tolerability, safety, and efficacy of nonoperative treatment of molluscum contagiosum using a gel containing ammonium glycyrrhizinate in preschool-aged children are evaluated.