We introduce and study several notions of approximation for ontology-mediated queries based on the description logics ALC and ALCI. Our approximations are of two kinds: we may (1) replace the ontology with one formulated in a tractable ontology language such as ELI or certain TGDs and (2) replace the database with one from a tractable class such as the class of databases whose treewidth is bounded by a constant. We determine the computational complexity and the relative completeness of the resulting approximations. (Almost) all of them reduce the data complexity from coNP-complete to PTime, in some cases even to fixed-parameter tractable and to linear time. While approximations of kind (1) also reduce the combined complexity, this tends to not be the case for approximations of kind (2). In some cases, the combined complexity even increases.