Relaxor ferroelectrics were discovered almost 50 years ago among the complex oxides with perovskite structure. In recent years this field of research has experienced a revival of interest. In this paper we review the progress achieved. We consider the crystal structure including quenched compositional disorder and polar nanoregions (PNR), the phase transitions including compositional order-disorder transition, transition to nonergodic (probably spherical cluster glass) state and to ferroelectric phase. We discuss the lattice dynamics and the peculiar (especially dielectric) relaxation in relaxors. Modern theoretical models for the mechanisms of PNR formation and freezing into nonergodic glassy state are also presented. (c) 2006 Springer Science + Business Media, Inc.