This study presents the current literature regarding the investigation of varnish contamination among the various types of lubricant contaminations. As the duration of use of lubricants increases, the lubricant deteriorates and may become contaminated. Varnish has been known to cause filter plugging, sticking of the hydraulic valves and fuel injection pumps, flow obstruction, clearance reduction, poor heating and cooling performance, and increased friction and wear in various lubrication systems. These problems may also result in mechanical system failures, performance degradation, and increased maintenance and repair costs. To improve the problems caused by varnish contamination, an adequate understanding of varnish is required. Therefore, in this review, the definitions and characteristics, generating machinery, generating mechanisms, causes, measurement methods, and prevention or removal methods of varnish are summarized. Most of the data presented herein are reports from manufacturers related to lubricants and machine maintenance that are included in published works. We expect that this summary will be helpful to those who are engaged in reducing or preventing varnish-related problems.