A review of cardiovascular clinical and research applications of MRI phase-contrast velocity imaging, also known as velocity mapping or flow imaging. Phase-contrast basic principles, advantages, limitations, common pitfalls and artefacts are described. It can measure many different aspects of the complicated blood flow in the heart and vessels: volume flow (cardiac output, shunt, valve regurgitation), peak blood velocity (for stenosis), patterns and timings of velocity waveforms and flow distributions within heart chambers (abnormal ventricular function) and vessels (pulse-wave velocity, vessel wall disease). The review includes phase-contrast applications in cardiac function, heart valves, congenital heart diseases, major blood vessels, coronary arteries and myocardial wall velocity.