Freehand three-dimensional ultrasound is a technique for acquiring ultrasonic data of a 3D volume by recording the trajectory of the ultrasound probe using a position sensor. In planning and registration, a freehand ultrasound systems is used to track a two-dimensional probe. Probe calibration is necessary to find the rigid body transformation from the coordinate system of the B-scan to that of the mobile part of the position sensor. Numerous techniques for this have been developed over the past decade. In this review, we give a comprehensive description of existing calibration techniques and classify them according to the mathematical principles on which they are based. We give a thorough analysis of these approaches based on their accuracy, ease of use, reliability, and speed of calibration. To ensure consistency, these comparisons are done by the authors based on experimental results and not on figures quoted in previous papers.