This paper offers an analysis of the state of affairs of the theory of translation, starting with the first attempts at formulating an independent and consolidated theory of translation at the end of the Second World War. From 1960 on, the linguistic sciences start showing a greater interest in the problems of translation, looking at both the process and the final product. Progressively, the theories are considering not only the text but also the context, both sociocultural and economical, and even psychological. The main trends in current research are following a functionalist approach.