The aim of this article is to provide Radiologists and Nuclear Medicine physicians the basic information required to understand how PET/MR scanners work, what are their limitations and how to evaluate their performance. It will cover the operational principles of standalone PET and MR imaging, as well as the technical challenges of creating a hybrid system and how they have been solved in the now commercially available scanners. Guidelines will be provided to interpret the main performance figures of hybrid PET/MR systems.