The physiological mechanisms, behavioral adjustments, and ecological associations that allow animal species to live in extreme environments have evoked the attention of many zoologists. Often, extreme environments are defined as those believed to be limiting to life in terms of water, energetic availability, and temperature. These three elements seem extreme in a number of arid and semi-arid settings that even so have been colonized by amphibians. Because this taxon is usually seen as the quintessential water-dependent ectotherm tetrapods, their presence in a number of semi-arid environments poses a number of intriguing questions regarding microhabitat choice and physiological plasticity, particularly regarding the ecological and physiological correlates of behaviors granting avoidance of the harshest conditions of semi-arid environments. Such avoidance states, generally associated to the concept of aestivation, are currently seen as a diverse and complex phenomena varying from species to species and involving numerous behavioral and metabolic adjustments that enhance survival during the drought. This chapter reviews the physiological ecology of anuran aestivation, mainly from the perspective of water and energy balance.