New methods of ventilation are being studied in different settings of pulmonary insufficiency in which the ultimate goal is to improve gas exchange and to minimize aggression to the lung parenchyma. The use of liquid perfluorocarbons administered directly in the airways has been ostensibly studied in pulmonary lesion models and in some clinical essays with good results relating to gas exchange, ventilatory mechanics, and anti-inflammatory properties. PFCs are substances with low surface tension, high density, they are not soluble in water, and allow for high diffusion of oxygen and carbonic gas. They act by recruiting collapsed alveoli, improving the gas exchange, protecting pulmonary architecture, and they wash out alveoli debris. This review article focuses on the different liquid ventilation strategies with perfluorocarbons, and provides information on the state of the art of liquid ventilation.