Recent research in science indicates that we are living in a fine-tuned universe. Only a very small parameter space of universal fundamental constants in Physics is congenial for the existence of life. Moreover, recent studies in Biological evolution also reveal that fine-tuning did exist in the evolution. It seems that we are so lucky to exist as all universal fundamental constants and life-permitting factors really fall into such a very small life-allowing region. This problem is known as the fine-tuning problem. Does this phenomenon need an explanation? Can the fine-tuning problem point to the existence of God? Modern Science invokes the idea of multiverse to address the fine-tuning problem. Some scientists suggest that each universe in a set of infinitely many universes contains a typical set of fundamental constants. We should not be surprised why our universe is fine-tuned because we would not exist if the constants are not the life-allowed values. Some suggest that the existence of God can explain this fine-tuning problem. The naturalistic multiverse theory and the existence of God are the two most robust proposals to address the fine-tuning problem. Moreover, some argue that the fine-tuning problem is not real because we are just subject to observational selection effect. In this thesis, I will provide a comprehensive discussion on the fine-tuning phenomena in our universe. In particular, I will use the confirmation principle and the inference to the best explanation simultaneously to evaluate different hypotheses in a more systematic way and give some of the new and updated scientific and philosophical arguments to respond to the recent criticisms of the fine-tuning arguments. I conclude that the theistic hypothesis is the best among all to address the fine-tuning problem.