Beer is a universally popular beverage, consumed worldwide. Recently, the beer market is witnessing a significant increase in the consumption of low- and non-alcoholic beer. This is mainly due to health reasons, safety reasons in the workplace or on the roads, and strict social regulations. Also, there are countries where alcohol consumption is completely forbidden by law. Consumers in such conditions are willing to consume products as close as possible to the conventional types, from a sensory point of view (especially flavor characteristics). However, non-alcoholic beer suffers from artificial and dull flavor as well as improper body and foaming properties. Therefore, production of alcohol-free beer with satisfactory organoleptic characteristics that can be compared with conventional beers has recently given rise to increased technological and economic interest. In this article, methods of production of alcohol-free beer (and to some extent, low-alcohol beer), its sensory characteristics as well as its health-related aspects are reviewed.