Studies investigating the effects of biological HIV prevention technologies have been reported with promising results for slowing the spread of HIV. Although prevention technologies can reduce the rate of HIV transmission at varying levels of efficaciousness, it is vital to anticipate the impact of HIV prevention technologies on subsequent sexual behaviors. Risk homeostasis theory posits that decreases in perceived risk, which will occur with access to HIV prevention technologies, will correspond with increases in risk taking behavior. Here we review the literature on risk compensation in response to HIV vaccines, topical microbicides, antiretroviral medications, and male circumcision. Behavioral risk compensation is evident in response to prevention technologies that are used in advance of HIV exposure and at minimal personal cost. We conclude that behavioral risk compensation be addressed by implementing adjunct behavioral risk reduction interventions to avoid negating the preventive benefits of biomedical HIV prevention technologies.