fMRI is a very important tool both in the field of Clinical Neuropsychology and Cognitive Neurocience. In the clinical domain, it is mostly used to locate functional regions such as those associated with motor or language processes, although new applications are being developed. Its use in research has permitted the confirmation, extension and rejection of theoretical models about brain functions. The rapid growth in the use of this technique in both clinical environment and in research, together with its fast development, generates the need to understand the advantages and limits of this technique in order to allow for more appropriate and objective conclusions. To achieve so, it is vital to properly understand how the images are generated and analyzed, in order to avoid some common mistakes regarding their interpretation. Thus, the main objective of this article is to present a general yet detailed review of the various steps involved in the design, acquisition, analysis and interpretation of fMRI experiments.