The social neuroscience approach to prejudice investigates the psychology of intergroup bias by integrating models and methods of neuroscience with the social psychology of prejudice, stereotyping, and discrimination. Here, we review major contemporary lines of inquiry, including current accounts of group-based categorization; formation and updating of prejudice and stereotypes; effects of prejudice on perception, emotion, and decision making; and the self-regulation of prejudice. In each section, we discuss key social neuroscience findings, consider interpretational challenges and connections with the behavioral literature, and highlight how they advance psychological theories of prejudice. We conclude by discussing the next-generation questions that will continue to guide the social neuroscience approach toward addressing major societal issues of prejudice and discrimination. Expected final online publication date for the Annual Review of Psychology, Volume 72 is January 4, 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.