Sudden cardiac death (SCD) is a devastating event afflicting 350,000 Americans annually, despite the availability of life-saving preventive therapy, the implantable cardioverter defibrillator (ICD). SCD prevention strategies are hampered by overreliance on global left ventricular ejection fraction (LVEF) below 35% as the most important criterion to determine ICD candidacy. Annually in the U.S. alone, this results in approximately 130,000 ICD placements at a cost of over $3 billion but only a 5% incidence per year of appropriate firings. This approach further fails to identify individuals who experience the majority, as many as 80%, of SCD events, which occur in the setting of more preserved LVEF. Better risk stratification is needed to improve care and should be guided by direct pathophysiologic markers of arrhythmic substrate, such as specific LV structural abnormalities. There is an increasing body of literature to support the prognostic value of cardiac magnetic resonance imaging with late gadolinium enhancement (CMR-LGE) in phenotyping the LV to identify those at highest risk for SCD. CMR has unparalleled tissue characterization ability and provides exquisite detail about myocardial structure and composition, abnormalities of which form the direct, pathophysiologic substrate for SCD. Here we review the evolution and current state of CMR for imaging the arrhythmic substrate, both as a research tool and for clinical applications.