Due to the widespread use and durability of synthetic polymers, plastic debris occurs in the environment worldwide. In the present work, information on sources and fate of microplastic particles in the aquatic and terrestrial environment, and on their uptake and effects, mainly in aquatic organisms, is reviewed. Microplastics in the environment originate from a variety of sources. Quantitative information on the relevance of these sources is generally lacking, but first estimates indicate that abrasion and fragmentation of larger plastic items and materials containing synthetic polymers are likely to be most relevant. Microplastics are ingested and, mostly, excreted rapidly by numerous aquatic organisms. So far, there is no clear evidence of bioaccumulation or biomagnification. In laboratory studies, the ingestion of large amounts of microplastics mainly led to a lower food uptake and, consequently, reduced energy reserves and effects on other physiological functions. Based on the evaluated data, the lowest microplastic concentrations affecting marine organisms exposed via water are much higher than levels measured in marine water. In lugworms exposed via sediment, effects were observed at microplastic levels that were higher than those in subtidal sediments but in the same range as maximum levels in beach sediments. Hydrophobic contaminants are enriched on microplastics, but the available experimental results and modelling approaches indicate that the transfer of sorbed pollutants by microplastics is not likely to contribute significantly to bioaccumulation of these pollutants. Prior to being able to comprehensively assess possible environmental risks caused by microplastics a number of knowledge gaps need to be filled. However, in view of the persistence of microplastics in the environment, the high concentrations measured at some environmental sites and the prospective of strongly increasing concentrations, the release of plastics into the environment should be reduced in a broad and global effort regardless of a proof of an environmental risk.