Capacitors are widely used in dc links of power electronic converters to balance power, suppress voltage ripple, and store short-term energy. Condition monitoring (CM) of dc-link capacitors has great significance in enhancing the reliability of power converter systems. Over the past few years, many efforts have been made to realize CM of dc-link capacitors. This article gives an overview and a comprehensive comparative evaluation of them with emphasis on the application objectives, implementation methods, and monitoring accuracy when being used. First, the design procedure for the CM of capacitors is introduced. Second, the main capacitor parameters estimation principles are summarized. According to these principles, various possible CM methods are derived in a step-by-step manner. On this basis, a comprehensive review and comparison of CM schemes for different types of dc-link applications are provided. Finally, application recommendations and future research trends are presented.