Magnetostrictive actuators play an important role in the perception of usefulness of smart materials and devices. Their applications are potentially wider than that of piezoelectric actuators because of the higher energy density and intrinsic robustness. However, the non-negligible hysteresis and complexity of their characteristics make the design and control quite difficult and has limited their diffusion in industrial applications. Nevertheless, the scientific literature presents a wide offer of results in design and geometries, modeling and control that may be exploited for applications. This paper gives a reasoned review of the main results achieved in the literature about design, modeling and control of magnetostrictive actuators exploiting the direct effects of magnetostriction (Joule and Wiedemann). Some perspectives and challenges about magnetostrictive actuators development are also gathered.