Voids form a prominent aspect of the Megaparsec distribution of galaxies and matter. Not only do they represent a key constituent of the Cosmic Web, they also are one of the cleanest probes and measures of global cosmological parameters. The shape and evolution of voids are highly sensitive to the nature of dark energy, while their substructure and galaxy population provides a direct key to the nature of dark matter. Also, the pristine environment of void interiors is an important testing ground for our understanding of environmental influences on galaxy formation and evolution. In this paper, we review the key aspects of the structure and dynamics of voids, with a particular focus on the hierarchical evolution of the void population. We demonstrate how the rich structural pattern of the Cosmic Web is related to the complex evolution and buildup of voids.