Streptococcus pneumoniae is an important cause of morbidity and mortality worldwide. There are three established approaches to anti-pneumococcal vaccination: capsular polysaccharide pneumococcal vaccine (PPV), protein-polysaccharide conjugate pneumococcal vaccine (CPV) and protein-based pneumococcal vaccine (PBPV). At present, only a 23-valent PPV for use in adults and a seven-valent CPV for use in infants are available in clinical practice. This study reviews available data on the efficacy of the available vaccines in different age groups and disease presentations, and the advantages and shortcomings of each type of vaccine, including future perspectives. Special attention is given to controversies regarding the efficacy of PPV against pneumonia in adults and its protective effects against myocardial infarction.