This article reviews recent studies on oligomerization of olefins catalyzed by transition metal complexes. Ni, Pd, and Fe complexes, having a ligand with a similar structure to the ethylene polymerization catalyst but with less bulky substituents, convert ethylene to the oligomers as a mixture with various chain lengths with Schulz-Flory molecular weight distribution. Cossee-type insertion of ethylene into the M-C bond and frequent elimination of a-olefins are proposed as the major reaction mechanism. The reaction using the Fe catalyst for polymerization and large excess of chain transfer reagents such as ZnEt 2 can yield the oligomers with Poisson distribution. Cr complexes with various ligands promote selective trimerization and/or tetramerization of ethylene to produce 1-hexene and/ or 1-octene. The mechanism involving metallacycle is proposed to account for the selectivity. Several Ti and Ta complexes are also effective for the trimerization of ethylene. Oligomerization of a-olefins has been also studied, although the product is frequently composed of branched oligomers and/or inner olefins.