Computed tomography coronary angiography (CTA) accurately detects and excludes coronary artery disease (CAD); however, the physiological significance of coronary artery lesions may be uncertain. CT myocardial perfusion imaging (CTP) acquired during vasodilator stress provides a novel and emerging method for detection of myocardial ischemia. Multiple studies have established the feasibility of CTP and suggested its incremental value when used in combination with CTA in the identification of hemodynamically significant stenoses as compared with CTA alone. Despite these encouraging clinical data, CT perfusion assessment is in its infancy, as further research is required to validate and optimize this new technique. Combined CTA/CTP imaging has significant potential, as it offers the convenience of assessing both coronary anatomy and myocardial perfusion in one single examination at a radiation dose equivalent to contemporary nuclear medicine imaging. In this review, we provide an overview of the fundamentals of CT perfusion imaging, recent advances in scanner types and imaging techniques and protocols, and current literature on the accuracy of CTP, concluding with its future challenges and directions.