Volume-reduced platelet concentrates (PCs) can be a useful option for transfusing a high number of platelets in the smallest possible plasma volume, especially in neonatal and other pediatric patients. In addition to decreasing the risk of circulatory overload, volume-reduced PCs contain less plasma, which may reduce the likelihood of adverse plasma-related transfusion reactions. Volume reduction can be achieved either during collection and processing of apheresis PCs (primary volume reduction) or, subsequently, by recentrifugation of stored PCs (secondary volume reduction). There is no standard method for preparing volume-reduced PCs. Although in vitro data suggest impaired platelet function with some methods of volume-reducing PCs, in vivo studies show acceptable hemostatic function, posttransfusion recovery, and platelet count increments for both primary and secondary volume-reduced PCs. This review presents an overview of recent studies on functional characteristics of different types of volume-reduced PCs.