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We present an overview of nonlinear phenomena related to optical quadratic solitons—intrinsically multi-component localized states of light, which can exist in media without inversion symmetry at the molecular level. Starting with presentation of a few derivation schemes of basic equations describing three-wave parametric wave mixing in diffractive and/or dispersive quadratic media, we discuss their continuous wave solutions and modulational instability phenomena, and then move to the classification and stability analysis of the parametric solitary waves. Not limiting ourselves to the simplest spatial and temporal quadratic solitons we also overview results related to the spatio-temporal solitons (light bullets), higher order quadratic solitons, solitons due to competing nonlinearities, dark solitons, gap solitons, cavity solitons and vortices. Special attention is paid to a comprehensive discussion of the recent …