The ovary is an organ found in the female reproductive system that produces an ovum. When released, this travels down the fallopian tube into the uterus, where it may become fertilized by a sperm. The ovaries form part of the female reproductive system. Each woman has two ovaries. They are oval in shape, about four centimeters long, and lie on either side of the womb (uterus) against the wall of the pelvis in a region known as the ovarian fossa.These glands have three important functions: they secrete hormones, they protect the eggs a female is born with and they release eggs for possible fertilization.