Ischemic heart failure (IHF) is a life-threatening cardiac condition characterized by systolic dysfunction and reduced cardiac output. It results from an imbalance between myocardial oxygen demand and supply. If left untreated, the condition could lead to disability and death. Medical or revascularization therapy potentially restores cardiac function and improves survival, thus the selection of patients who will benefit from vascularization remains an important clinical target. However, for years, research on IHF therapies lagged behind as the focus was more on functional status of the heart than on etiology. Recently, increased research has provided greater insight into myocardial viability and contributed to new strategies for identifying patients for vascularization. In this review, we aggregate published evidence on IHF definition, etiology, pathophysiology, clinical presentation, diagnosis and clinical management of IHF. The objective is to improve clinical understanding and management of IHF.