Janus particles are colloidal particles with more than a single type of surface chemistry or composition, ranging in size from hundreds of nanometers to a few micrometers. Like traditional colloids, they are large enough to be observed under optical microscopy in real time and small enough to diffuse by Brownian motion, but their interesting and useful new properties of directional interaction bring new research opportunities to the fields of soft matter and fundamental materials research as well as to applications in other disciplines and in technologies such as electronic paper and other multiphase engineering. In this review, a variety of methods that have been used to synthesize Janus particles are introduced. Following this, we summarize the use of Janus particles as basic units that assemble into novel structures and tune important material properties. The concluding sections highlight some of the technological applications, including recent progress in using Janus particles as microprobes, micromotors, electronic paper, and solid surfactants.