Together with the changes in learning and teaching pedagogies, alternative assessment methods are becoming more and more appreciated in educational practice. Self-assessment is one form of alternative assessment and has been suggested as a reliable and valid method for assessing students’ communicative competence. In this book chapter, a review of self-assessment in speaking skills is examined. A thematic literature review was conducted on the benefits of self-assessment in speaking skill, tools to self-asasess students’ speaking skills and empirical research on validity and effects of self-assessment on students’ speaking performance. The review showed (1) contradictory ideas on the use of self-assessment and that (2) studies on the effects of self-assessment on students’ speaking skills in the English as a foreign language (EFL) context. Pedagogical implications and recommendations for further studies in the field are suggested.