Introduction. Cocoa (Theobroma cacao L.) originates from Ecuador. It is one of the oldest foods in the world. The fact that cocoa is the main component in chocolate industry makes it one of the most quoted raw materials today. The chemical, physical, microbiological, and sensory properties of cocoa determine its quality and, as a result, economic and nutritional value. The research objective was to conduct a detailed analysis of cocoa fermentation process and to study the transformations this raw material is subjected to during processing.
 Study objects and methods. The present article introduces a substantial bibliographic review based on three databases: Science Direct, Scopus, and Medline. The scientific publications were selected according to several factors. First, they had to be relevant in terms of cocoa fermentation. Second, they were written in English or Spanish. Third, the papers were indexed in high-impact journals. The initial selection included 350 articles, while the final list of relevant publications featured only 50 works that met all the requirements specified above.
 Results and discussion. The main characteristics of yeasts, lactic bacteria, and acetic bacteria were analyzed together with their main parameters to describe their activities during different stages of alcoholic, lactic, and acetic fermentation. A thorough analysis of the main enzyme-related processes that occur during fermentation makes it possible to optimize the use of substrates, temperature, time, pH, acidity, and nutrients. As a result, the finished product contains an optimal concentration of volatile compounds that are formed in the beans during fermentation. The study featured the main strains of fermentation-related microorganisms, their activities, main reactions, and products.
 Conclusion. This study makes it possible to improve the process of fermentation to obtain beans with a better chemical composition.