The article provides a comprehensive account of the research on synthetic and catalytic aspects of hydrosilylation. Reactions proceeding in the presence of nucleophilic‐electrophilic catalysts, metals and immobilized metals as well as radical initiators are described. However, particular attention is paid to processes catalysed by transition metal complexes. For these catalytic systems, mechanistic pathways and development of efficient and selective catalytic systems are more comprehensively discussed. Possible applications of hydrosilylation of multiple carbon‐carbon and carbon‐heteroatom bonds in organic and asymmetric synthesis are presented. The article summarizes applications of the hydrosilylation processes in polymer and material chemistry including their contribution in polysiloxane curing, synthesis of new hybrid materials, dendrimers and functionalized molecular and macromolecular organosilicon derivatives.