Pericardial effusion is defined as a fluid accumulation in the pericardial space. Pericardial effusion fluid may be transudate, exudate, pyo-pericardium or hemopericardium. Treatment varies according to the etiology and the presentation of the disease with different clinical symptoms and signs. If a small or midsize effusion is present, it usually is asymptomatic, but patients with large or acute pericardial effusions develop hemodynamic signs of cardiac tamponade. The first phase of medical management of pericardial effusion is the treatment of the underlying cause, followed by symptomatic treatment with anti-inflammatory drugs. Occasionally, pericardial fluid drainage should be performed for diagnostic or therapeutic purposes. Pericardiocentesis is the treatment of choice for cardiac tamponade and for large effusion. Pericardial effusion management and indications for the pericardiocentesis are reviewed in this paper.