One of the predominant failure modes of polymer electrolyte membrane (PEM) fuel cells is the degradation of the PEM, especially when the fuel cell is used for transportation applications. Numerous studies have been carried out regarding this issue but many aspects of the degradation are not yet understood. This paper reviews the available literature regarding membrane degradation, and attempts to classify the degradation modes into three categories: mechanical, thermal and chemical/electrochemical. The factors that contribute to each mode are discussed, along with detailed mechanisms for some degradations. Some possible mitigation strategies are also explored.