The paper presents the author’s vision of the problem of earthquake hazards from the physical point of view. The first part is concerned with the processes of precursor’s generation. These processes are a part of the complex system of the lithosphere–atmosphere–ionosphere–magnetosphere coupling, which is characteristic of many other natural phenomena, where air ionization, atmospheric thermodynamic instability, and the Global Electric Circuit are involved in the processes of the geosphere’s interaction. The second part of the paper is concentrated on the reliable precursor’s identification. The specific features helping to identify precursors are separated into two groups: the absolute signatures such as the precursor’s locality or equatorial anomaly crests generation in conditions of absence of natural east-directed electric field and the conditional signatures due to the physical uniqueness mechanism of their generation, or necessity of the presence of additional precursors as multiple consequences of air ionization demonstrating the precursor’s synergy. The last part of the paper is devoted to the possible practical applications of the described precursors for purposes of the short-term earthquake forecast. A change in the paradigm of the earthquake forecast is proposed. The problem should be placed into the same category as weather forecasting or space weather forecasting.