Drug disposition, a complex process culminating from the interplay of numerous drug–metabolizing enzymes, drug transport proteins, serum‐binding proteins, and transcription factors, is affected by multiple environmental and endogenous factors. Genetic variations in drug–metabolizing enzymes and drug transport proteins contribute toward variability in drug disposition. Our knowledge of these functional genetic variants and the tools to interrogate them are well developed. These tools have found use in drug development within the pharmaceutical industry, and for limited applications, making clinical treatment decisions. This chapter discusses the genetic variations in drug–metabolizing enzymes and transporters and their relevance for clinical pharmacokinetics.