  We review the theoretical aspects of gravitational lensing by black holes,
and discuss the perspectives for realistic observations. We will first treat
lensing by spherically symmetric black holes, in which the formation of
infinite sequences of higher order images emerges in the clearest way. We will
then consider the effects of the spin of the black hole, with the formation of
giant higher order caustics and multiple images. Finally, we will consider the
perspectives for observations of black hole lensing, from the detection of
secondary images of stellar sources and spots on the accretion disk to the
interpretation of iron K-lines and direct imaging of the shadow of the black
hole.
