This paper shows a review of the recent literature on Photovoltaic/Thermal PV/T technology and application that is carried out by various researchers and scientists. It describes various types of PV/T collectors such as air, water/air and water PV/T collectors in terms of performance, design, fabrication, simulation and experimental evaluation. Also, it evaluates the applications of PV/T technology such as building integrated photovoltaic/ thermal (BIPVT) collector, Photovoltaic-Thermal/heat pump systems, water desalination, solar still, solar cooling and solar greenhouse. Results of this paper showed that energy production of PVT systems has been increased significantly. From the current literature reviews, PV/T system is a very promising technology and needs a further development in term of the overall efficiency and cost reduction.