The scope of this book is two-fold: the first part gives a fully detailed and pedagogical presentation of the Hawking effect and its physical implications, and the second discusses the backreaction problem, especially in connection with exactly solvable semiclassical models that describe analytically the black hole evaporation process. The book aims to establish a link between the general relativistic viewpoint on black hole evaporation and the new CFT-type approaches to the subject. The detailed discussion on backreaction effects is also extremely valuable.