Hollow spherical (HOSP) powders of metals, metal alloys and oxide ceramics are of great interest for thermal spraying, powder metallurgy and material science. For the last decade due to constant rise of interest in HOSP powders and expansion of areas of their application, the efforts of researchers, including authors of present paper, are focused on developing methods of producing the hollow microspheres, based on processing of agglomerated powders in thermal plasma. Exists a range of methods of producing the agglomerated powders with size of dozens of microns, which particles consist of several uniformly mixed nano- submicron- and micron sized powder components: 1) spray drying, 2) processing of atomized suspensions; 3) mechanical treatment of powder mixtures in high-energy planetary mills, etc. A brief overview the results of R&D directed to production of various HOSP oxide and metallic powders (α-alumina, zirconia stabilized by yttria, quartz, nickel allow) by the use of DC torches with interelectrode inserts (cascade torches) and twin torch is presented. In particular, the theoretical approach providing the requirements to plasma flow in criterion view have been developed. A physical and mathematical model of hollow particle behavior in plasma flow is developed and discussed.