Atomic layer deposition (ALD) is an attractive method to deposit thin films for advanced technological applications such as microelectronics and nanotechnology. One material group in ALD that has matured in 10 years and proven to be of wide technological importance is noble metals. In this paper, thermal ALD of noble metals and their oxides is reviewed. Noble metal films are mostly grown using O2 as the nonmetal precursor in a combustion-type chemistry. Alternatively, lower growth temperatures can be reached via noble metal oxide growth with consecutive reactions with ozone and H2. The use of true reducing chemistry (i.e., H2) is typical only for ALD of palladium at low temperatures. On the other hand, ALD of noble metal oxides has been limited with reactants such as ozone and O2 gas. In this review, reaction mechanisms in various types of processes are discussed and issues in nucleation are addressed. Deposition temperatures, film growth rates, and purities as well as evaporation temperatures used for noble metal precursors are tabulated for comparison.