Stereoscopic particle image velocimetry (PIV) employs two cameras to record simultaneous but distinct off-axis views of the same region of interest (illuminated plane within a flow seeded with tracer particles). Sufficient information is contained in the two views to extract the out-of-plane motion of particles, and also to eliminate perspective error which can contaminate the in-plane measurement. This review discusses the principle of stereoscopic PIV, the different stereoscopic configurations that have been used, the relative error in the out-of-plane to the in-plane measurement, and the relative merits of calibration-based methods for reconstructing the three-dimensional displacement vector in comparison to geometric reconstruction. It appears that the current trend amongst practitioners of stereoscopic PIV is to use digital cameras to record the two views in the angular displacement configuration while incorporating the Scheimpflug condition. The use of calibration methods has also gained prominence over geometric reconstruction.