Primordial black holes (PBHs) are a profound signature of primordial cosmological structures and provide a theoretical tool to study nontrivial physics of the early Universe. The mechanisms of PBH formation are discussed and observational constraints on the PBH spectrum, or effects of PBH evaporation, are shown to restrict a wide range of particle physics models, predicting an enhancement of the ultraviolet part of the spectrum of density perturbations, early dust-like stages, first order phase transitions and stages of superheavy metastable particle dominance in the early Universe. The mechanism of closed wall contraction can lead, in the inflationary Universe, to a new approach to galaxy formation, involving primordial clouds of massive BHs created around the intermediate mass or supermassive BH and playing the role of galactic seeds. * Maxim.Khlopov@roma1.infn.it 5 Gravitino production by PBH evaporation and constraints on the inhomogeneity of the early Universe 17 5.