Silicon nanocrystals (Si-nc) is an enabling material for silicon photonics, which is no longer an emerging field of research but an available technology with the first commercial products available on the market. In this paper, properties and applications of Si-nc in silicon photonics are reviewed. After a brief history of silicon photonics, the limitations of silicon as a light emitter are discussed and the strategies to overcome them are briefly treated, with particular attention to the recent achievements. Emphasis is given to the visible optical gain properties of Si-nc and to its sensitization effect on Er ions to achieve infrared light amplification. The state of the art of Si-nc applied in a few photonic components is reviewed and discussed. The possibility to exploit Si-nc for solar cells is also presented. in addition, nonlinear optical effects, which enable fast all-optical switches, are described.