This article is aimed to give a short overview over the most important features and research findings about panic disorder and agoraphobia. The diagnostic criteria will be discussed reviewing the changes in the history of the Diagnostic Statistical Manual for Mental Disorders. Epidemiology will be reviewed within development and maintenance factors. Different theoretical models will be discussed and the evidence-based treatment approach will be explained. Possible mechanisms of change are explained and the article ends with a short overview of clinical implications and future directions of research.