A review of existing research on signatures of gas turbine faults is presented. Faults that influence the aerothermodynamic performance of compressors and turbines, such as fouling, tip clearance increase, erosion, variable geometry system malfunction, and object impact damage, are covered. The signatures of such faults, which are necessary for establishing efficient gas path diagnostic methods, are studied. They are expressed through mass flow capacity and efficiency deviations. The key characteristics of the ratio of such deviations are investigated in terms of knowledge existing in published research. Research based on experimental studies, field data, and results of detailed fluid dynamic computations that exist today is found to provide such information. It is shown that although such signatures may be believed to have a unique correspondence to the type of component fault, this is only true when a particular engine and fault type are considered. The choice of diagnostic methods by developers should, thus, be guided by such considerations instead of using values taken from the literature without considering the features of the problem at hand.