Knowledge about the fifth basic taste, the umami taste, has been investigated by many scientists in the last years and continues to gain importance. Therefore, a lot of scientific studies were conducted to explore several effects influencing the mechanism of umami, which is elicited and enhanced by defined concentrations of MSG (monosodium glutamate) and umami compounds. This paper covers the most relevant scientific literature regarding umami, its use as a flavor enhancer, and the latest umami compounds, which have been released in the last ten years. The main goal of this overview was to summarize the most important results which were related to umami as one of the five basic tastes, the umami taste receptor, the essential role of umami in a great number of physiological mechanisms, and the MSG symptom complex. Furthermore, the function of umami in the interaction of taste, aftertaste and olfactory pathways has been discussed.