Thermoelectric (TE) materials have been attracting increasing interest once they are capable of directly convert temperature variations into electricity, being used in thermoelectric generators and thermoelectric sensor devices, among others. This work reports on the main principles of thermoelectric and thermomagnetic effects as well as the main materials used for the development of applications. Additionally, recent advances in the design and properties of thermoelectric materials, modelling approaches and some relevant applications are presented.