Conductive adhesives have recently received a lot of focus and attention from the researchers in electronics industry as a potential substitute to lead-containing solders. Numerous studies have shown that the conductive adhesives have many advantages over conventional soldering such as environmental friendliness, finer pitch feasibility and lower temperature processing. This review focuses on the recent research trends on the reliability and property evaluation of anisotropic and non-conductive films that interconnect the integrated circuit component to the printed circuit board or other types of substrate. Major topics covered are the conduction mechanism in adhesive interconnects; mechanical reliability; thermo-mechanical-hygroscopic reliability and electrical performance of the adhesive joints. This review article is aimed at providing a better understanding of adhesive interconnects, their principles, performance and feasible applications.