Some important properties of photorefractive spatial solitons and their applications have been reviewed in the present paper. Using band transport model, the governing principle of photorefractive nonlinearity has been addressed and nonlinear dynamical equations of spatial solitons owing to this nonlinearity have been discussed. Mechanisms of formation of screening and photovoltaic solitons of three different configurations, i.e., bright, dark and grey varieties have been examined. Incoherently coupled vector solitons due to single and two-photon photorefractive phenomena have been highlighted. Modulation instability of a broad quasicontinuous optical beam has also been discussed. Finally possible applications have been highlighted.