The discovery, design and development of materials are critically linked to advances in many areas of research, and optics is no exception. Recently, the spectral region in which the index of refraction of a material approaches zero has become a topic of interest owing to fascinating phenomena, such as static light, enhanced nonlinearities, light tunnelling and emission tailoring. As a result, such near-zero-index (NZI) materials bridge materials development and optical research. Here, we review recent advances in various classes of NZI platforms, with particular focus on homogeneous materials, including metals, semi-metals, doped semiconductors, phononic and interband materials, discussing the novel optical phenomena that they can produce. We also overview the developments in a key area for NZI materials, nonlinear optics, and survey some of the future goals in the field, such as the development of tailorable NZI materials in the visible range and the improvement of the theoretical description of the nonlinear enhancements in these materials. Materials with a near-zero optical refractive index have stimulated much interest, as they can be used to investigate fundamental light–matter interactions. This Review surveys the wide range of near-zero-index homogeneous materials that have been explored and highlights the key experimental advancements they have enabled.