Age-related macular degeneration (AMD) is the leading cause of blindness among adults in the developed countries. It is characterized by the progressive loss of central vision. AMD is classified into two forms: dry and wet. Dry AMD involves the accumulation of deposits in the RPE and Bruch's membrane; Wet AMD is characterized by neovascularization in the choroid. Whether the two forms of AMD share the same mechanism for the disease development is presently not clear. Oxidative stress, inflammation, and ER-stress are the common modes for the pathogenesis of AMD. In addition, other risk factors and several signaling pathways have been implicated as causative factors of AMD. In this paper, the mechanisms underlying AMD, risk factors involved in the pathology, representative animal models, and therapeutic treatment strategies are reviewed.