The vapor extraction of heavy oil and bitumen, or Vapex, has emerged as a very promising recovery process since its invention in 1991. The principal reason is the environmental friendliness of Vapex together with its cost-effective nature vis-a-vis other recovery processes. This paper assimilates and presents the research and technological contributions made toward Vapex. The development and applicability of Vapex is brought up in context of the availability of oil from natural sources, challenges of oil recovery, environmental factors, and cost economics. Significant findings and salient features of several experimental and theoretical studies on Vapex are included. Various factors that influence the operation of Vapex are discussed. Important issues are identified that need further investigations for the continued enhancement of Vapex. It is expected that this paper will serve as a useful reference tool for the engineers and scientists interested in Vapex.