This review presents an account of the major works done on spectra of adjacency matrices drawn on networks and the basic understanding attained so far. We have divided the review under three sections: (a) extremal eigenvalues, (b) bulk part of the spectrum and (c) degenerate eigenvalues, based on the intrinsic properties of eigenvalues and the phenomena they capture. We have reviewed the works done for spectra of various popular model networks, such as the Erdős-Rényi random networks, scale-free networks, 1-d lattice, small-world networks, and various different real-world networks. Additionally, potential applications of spectral properties for natural processes have been reviewed.Various natural and man-made systems have been modeled under the network theory framework. Different network models with distinct design principles have been proposed to better understand these real-world networks. The eigenvalue spectrum of these networks not only contain information about structural characteristics of underlying networks but also provide insight to dynamical behaviour and stability of corresponding complex systems. Depending on the structural characteristics of underlying model networks, the spectra of these networks exhibit specific features. All these ascertain that the spectra of networks can be used as a practical tool for classifying and understanding different real-world systems represented as networks. In this review, we first discussed the features which the different regions of spectra furnish, in case of the model networks. Further, we went on to discuss spectral characteristics of real-world networks, with particular emphasis on their extent of similarities and differences with the spectra of model networks.has elucidated the importance of interactions which has led to fundamental understanding of emergent phenomena in various complex systems and processes, for instance, cellular signalling, disease spread, scientific collaboration, transportation, WWW, power grid and so on [1,2]. Many of these networks appear to share certain nontrivial, similar patterns in connections between their elements. An understanding to the origins of these patterns and identifying and characterizing new ones is one of the main driving forces for research in complex networks. Apart from various investigations which focus on direct measurements of the structural properties of networks, there have been studies demonstrating that properties of networks or graphs could be well characterized by the spectrum of associated adjacency matrix [3]. The spectrum of a network is the set of eigenvalues of its adjacency matrix (A ij ) and is denoted as λ i , where i = 1, 2, . . . , N such that λ 1 > λ 2 ≥ λ 3 ≥ . . . ≥ λ N . For an undirected network, the adjacency matrix is symmetric and consequently has real eigenvalues. For a directed network, the adjacency matrix is asymmetric and has complex eigenvalues. Further, there can be networks having weighted connections, negative couplings, etc. Note that here we have restricted ourselves to symmet...