We review recent developments concerning the hadronic light-by-light scattering contribution to the anomalous magnetic moment of the muon. We first discuss why fully off-shell hadronic form factors should be used for the evaluation of this contribution to the g-2. We then reevaluate the numerically dominant pion-exchange contribution in the framework of large-N_C QCD, using an off-shell pion-photon-photon form factor which fulfills all QCD short-distance constraints, in particular, a new short-distance constraint on the off-shell form factor at the external vertex in g-2, which relates the form factor to the quark condensate magnetic susceptibility in QCD. Combined with available evaluations of the other contributions to hadronic light-by-light scattering this leads to the new result a_{mu}(LbyL; had) = (116 pm 40) x 10^{-11}, with a conservative error estimate in view of the many still unsolved problems. Some potential ways for further improvements are briefly discussed as well. For the electron we obtain the new estimate a_{e}(LbyL; had) = (3.9 pm 1.3) x 10^{-14}.
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