Soft gamma-ray repeaters (SGRs) are a peculiar family of bursting neutron stars that, occasionally, have been observed to emit extremely energetic giant flares (GFs), with energy release up to approximately 10(47) ergs(-1). These are exceptional and rare events. It has been recently proposed that GFs, if emitted by extragalactic SGRs, may appear at Earth as short gamma-ray bursts. Here, I will discuss the properties of the GFs observed in SGRs, with particular emphasis on the spectacular event registered from SGR 1806-20 in December 2004. I will review the current scenario for the production of the flare, within the magnetar model, and the observational implications.