The mechanical properties of amorphous alloys have proven both scientifically unique and of potential practical interest, although the underlying deformation physics of these materials remain less firmly established as compared with crystalline alloys. In this article, we review recent advances in understanding the mechanical behavior of metallic glasses, with particular emphasis on the deformation and fracture mechanisms. Atomistic as well as continuum modeling and experimental work on elasticity, plastic flow and localization, fracture and fatigue are all discussed, and theoretical developments are connected, where possible, with macroscopic experimental responses. The role of glass structure on mechanical properties, and conversely, the effect of deformation upon glass structure, are also described. The mechanical properties of metallic glass-derivative materials – including in situ and ex situ composites, foams and nanocrystal-reinforced glasses – are reviewed as well. Finally, we identify a number of important unresolved issues for the field.