In this contribution, some aspects of the flow generated by surface or underwater vehicles are discussed. The content is a synthetic review of the literature in the field. The basic features, which are already well established, are briefly recalled, whereas attention is mainly devoted to the most recent research advances on those hydrodynamic phenomena that are not yet fully understood or are at the research frontier of the field. These are the breaking of the bow wave and the subsequent vorticity generation, the separated turbulent flow at the stern, the effect of the scale on the flow characteristics, the flow about propellers and the mutual interaction of the propeller with ship hull and rudders, and the flow about ships in maneuver or in unsteady motion. For underwater vehicles, the discussion concerns the flow generated by a submarine in steady motion in open water or close to the free surface, the flow about the propeller and the interaction with hull, sail, and rudder. Finally, some considerations are given for supercavitating vehicles.