The processing, structure and properties (mechanical and functional) of directionally solidified eutectic ceramic oxides are reviewed with particular attention to the developments in the last 15 years. The article analyzes in detail the control of the microstructure from the processing variables, the recently gained knowledge on their microstructure (crystallographic orientation, interface struc-ture, residual stresses, etc.), the microstructural and chemical stability at high temperature, the rela-tionship between the eutectic microstructure and the mechanical properties, and the potential of these materials as patterning substrates for thin films, templates to manufacture new composite materials, photonic materials and electroceramics. The review highlights the achievements obtained to date, the current limitations and the necessary breakthroughs.