Recent outbreaks of highly pathogenic avian influenza A virus infections (including those of the H5N1 subtype) in poultry and in humans (through contact with infected birds) have raised concerns that a new influenza pandemic will soon occur. Effective vaccines against H5N1 virus are therefore urgently needed. Reverse genetics-based inactivated vaccines have been prepared according to WHO recommendations and licensed in several countries following their assessment in clinical trials. However, the effectiveness of these vaccines in a pandemic is not guaranteed. We must therefore continue to develop alternative pandemic vaccine strategies. Here, we review the current strategies for the development of H5N1 influenza vaccines, as well as some future directions for vaccine development.