Semiconductor colloidal quantum dots possessing unique spectral luminescent characteristics are of great interest for the development of novel materials and devices, which are promising to be used in var ious fields. However, the contemporary high quality quantum dots contain Cd, Pb, Hg, Se, and Te ions and are toxic, with this circumstance limiting their wide practical application. Therefore, the attention of researchers has recently been focused on A III B V semiconductor quantum dots-in particular, InP ones, which are markedly more environmentally safe. InP quantum dots have spectral characteristics similar to those of well studied CdSe quantum dots and can, in principle, replace the latter in many cases, especially, taking into account their more pronounced size effect caused by the narrow energy gap and the large Bohr radius of the exciton. Moreover, the stronger InP covalent bond than the ionic one in A II B VI semiconductors makes it possible to expect that they have a higher photostability and stability in active media. This work pre sents a review of the modern literature devoted to the synthesis and properties of colloidal indium phosphide quantum dots, which are very promising for use as substitutes of toxic cadmium based quantum dots.