Thermodynamic studies of clathrate hydrates, mainly of structures I and II, are considered in this review which is based on 147 references. There are two main subjects. The first is the host lattice energy and the guest-host interaction energy, both of these quantities being related to the enthalpy of dissociation and composition of the hydrates. The second subject concerns orientational ordering phenomena occurring in both host and guest, as reflected in the low temperature heat capacity. The classical theoretical treatment of clathrate formation has been reconsidered on the basis of recent experimental results. Particular emphasis has been given to orientational ordering since this topic is undoubtedly central to clarifying the nature of clathrate hydrates.