Traps are the defects that can capture mobile charge carriers and this article focuses on the traps in gate dielectrics prepared on Silicon substrate, which dominates the modern semiconductor industry. There are two types of traps: the electron traps capture electrons and form negative space charges and the hole traps capture holes and form positive space charges. Traps degrade device performance and their minimization is a key task for the semiconductor device manufacturers. This article will summarize the impact of traps on the performance of devices used in modern semiconductor industry first, including shift in device parameters and device lifetime, time‐dependent dielectric breakdown, stress‐induced leakage, noises, and time‐dependent device‐to‐device variation. The key properties of traps will then be reviewed, including trapping kinetics, capture cross sections, effective densities, energy levels, and physical locations. Attentions will be paid to both the as‐grown traps and the generated ones and their similarity and differences will be highlighted.