Recently, numerous metabolites possessing uncommon structures and potent bioactivity have been isolated from strains of fungi collected from diverse environments. The genus Aspergillus is known as a rich source of y-butyrolactones. These are a group of fungal secondary metabolites, consisting of a five- membered lactone bearing two aromatic rings, which shows a great variety of biological activities. This review summarizes the research on the biosynthesis, source, and biological activities of the naturally occurring y-butyrolactones that have been isolated from Aspergillus species published over the last decades. More than 75 compounds are described and 65 references are cited.