The prospects for a complete stochastic theory of microscopic phenomena are considered. The two traditional schools of stochastic physics, the diffusion process school and the zero-point electromagnetic field school, are reviewed. A completely relativistic theory, stochastic field theory, is proposed as an extension of the ideas of these two schools. Within the context of stochastic field theory we present the following new results: an elementary stochastization scheme which produces the zero-point electromagnetic field; a physical interpretation of the mathematical methods developed (...) by Lukosz for calculating zero-point energies; a calculation of the first-order Lamb shift which generalizes that of Welton; a new setting for a finite-temperature theory; and comments on the bag model for quark confinement. (shrink)