Colorectal polyps are discrete masses of tissue that protrude into the lumen of the bowel. They are characterized by their gross appearance and overall size, whether pedunculated or sessile and whether single or part of polyposis syndromes. They occur in 15 to 20 % of adult population, most common sites being left colon, sigmoid colon and rectum. The incidence of polyps progressively increases from 50 years onwards. Two thirds of polyps are of adenomatous type which have a potential for malignant transformation. Hence, early diagnosis and removal is advised. In this review, we present a discussion of various histomorphological types of polyps, their etiopathogenesis, neoplastic potential and diagnostic modalities with review of literature.