A comprehensive survey of the recent developments on the synthesis, properties and applications of silicone containing copolymers is provided. Influence of (−R 2 Si−O−) backbone composition on the physicochemical properties of silicone copolymers, such as thermal transitions, solubility parameter and surface tension is discussed. Preparation and properties of well-defined α,ω-reactive organofunctionally terminated (telechelic) silicone oligomers and their utilization in the preparation of a wide range of block and segmented copolymers through step-growth,anionic, ring-opening and living free-radicalpolymerization techniques are provided. Use of silicone oligomers in the modification of polymeric network structures is also discussed. Special emphasis is given to the discussion of the effect of silicone oligomer and organic segment structure and molecular weight on the morphology and surface and bulk properties of the resultant silicone containing copolymers and networks.