Alloy phase diagrams are useful for the development, fabrication, design and control of heat treatment procedures that will produce the required mechanical, physical, and chemical properties of new alloys. They are also useful in solving problems that arise in their performance in commercial applications, thus improving product predictability. This article describes different equilibrium phase diagrams (unary, binary, and ternary) and microstructures, description terms, and general principles of reading alloy phase diagrams. Further, the article discusses plotting schemes; areas in a phase diagram; and the position and shapes of the points, lines, surfaces, and intersections, which are controlled by thermodynamic principles and properties of all phases that comprise the system. It also illustrates the application of the stated principles with suitable phase diagrams.