Dichromated gelatin holograms, properly recorded and processed, have so little scattering and absorption that they are nearly indistinguishable from clear glass plates. Dichromated gelatin is the best material today for the fabrication of holographic optical elements and certain reflection type image holograms because of its low scattering, large refractive index modulation capacity, moderate exposure level, high resolution capacity, good environmental stability with a cover plate, and other unique properties such as reprocessibility and relatively easy hologram thickness control. We first review the mechanism of hologram formation in dichromated gelatin and holographic characteristics and then discuss several promising applications of dichromated gelatin holograms such as holographic optical elements (or holographic optics components) and information storage and display.