Nickel has been reviewed as a catalyst and promoter in the Fischer-Tropsch synthesis (FTS). The main obstacle to its industrial application is the formation of volatile carbonyls, causing deactivation and loss of active phase, as well as a somewhat lighter product than from Co or Fe catalysts. Presented are both experimental and theoretical work pointing to suitable techniques for catalyst preparation, its composition and activation, as well as operating conditions where Ni is capable of producing long chain hydrocarbons in the FTS. Some important perspectives are also provided based on thermodynamic calculations and suggestions for further work are included.