NGC 346 is an extremely young and compact star cluster, which excites the largest and brightest HII region (N66) in the Small Magellanic Cloud. The ionizing cluster contains a major fraction of the O stars known in the entire galaxy. Ground based narrow-band images show abundance of dust and compact, embedded clusters, surrounding the main ionizing cluster, suggesting the presence of a second stellar generation, triggered by the outflows from the most massive stars, as observed in 30 Doradus. While the brightest stellar population of NGC 346 has been well investigated in the past 20 years, we have very few informations on the fainter cluster stellar content. The exquisite resolutive power of the Hubble Space Telescope now allowed us to study in detail its stellar content down to sub-solar masses. This study has revealed a rich populations of pre-Main Sequence stars, whose masses range between 3 and 0.5 solar masses, and strong evidence of ongoing star formation.