This article reviews research on oral feedback in the field of second language (L2) education to identify three main factors that play a part in teachers' giving and students' responding to oral feedback. Theoretical perspectives supporting oral feedback are first presented to broadly define oral feedback, conceptualising it as an instructional input, a dialogic process and an internal process. Empirical studies are then reviewed, revealing that most focus on linguistic factors in terms of how teachers give oral feedback in L2 classrooms. More recently, researchers have studied the contextual factors at work, and viewed oral feedback as occurring within particular interpersonal, interactional and instructional contexts. Research exploring individual differences between learners in the process of responding to oral feedback has also been conducted. Finally, a conceptual framework is proposed to help illustrate the interrelatedness of the three factors during oral feedback processes. Pedagogic implications for improving teacher oral feedback practices and enhancing the effectiveness of oral feedback in L2 education and suggestions for future research are provided.