Ester based dielectric fluids were found to beat mineral oils in thermal and environmental aspects. Hence there is a great need of research on ester oils. The present paper is a review of 84 published articles. Owing to length of the document; exceptions were made to include a citation if a publication contributed a significantly technical viewpoint on usage of ester oils for transformer insulation technology. The selected literature has been classified into relevant sections to make researchers convenient in obtaining literature. Some citations spanned for more than one section, efforts were made to include such citations in one of the most relevant section. The present paper will be useful to the industry and researchers to know the significance and need of ester based dielectrics to the present day scenario.