This review discusses the development of aqueous phase, homogeneous, transfer hydrogenation catalysis. Transfer hydrogenation catalysts, based on Ru, Ir and Rh, reduce organic substrates in water by assisting the transfer of hydrogen from simple donor species. These catalysts are expected to have significant benefits when compared with organic phase catalysts, including greater activity, greater selectivity and smaller environmental impact. They will therefore be expected to make a significant contribution to homogeneous catalysis and 'green chemistry'. Here, we comprehensively examine these catalysts, paying special attention to structural features.