We review the current state of optical methods for sensing oxygen. These have become powerful alternatives to electrochemical detection and in the process of replacing the Clark electrode in many fields. The article (with 694 references) is divided into main sections on direct spectroscopic sensing of oxygen, on absorptiometric and luminescent probes, on polymeric matrices and supports, on additives and related materials, on spectroscopic schemes for read-out and imaging, and on sensing formats (such as waveguide sensing, sensor arrays, multiple sensors and nanosensors). We finally discuss future trends and applications and summarize the properties of the most often used indicator probes and polymers. The ESI† (with 385 references) gives a selection of specific applications of such sensors in medicine, biology, marine and geosciences, intracellular sensing, aerodynamics, industry and biotechnology, among others.