Enormous advances in genomics have resulted in a large increase in the number of potential therapeutic targets that are available for investigation. This growth in potential targets has increased the demand for reliable target validation, as well as technologies that can identify rapidly several quality lead candidates. Virtual screening, and in particular receptor-based virtual screening, has emerged as a reliable, inexpensive method for identifying leads. Although still an evolving method, advances in computational techniques have enabled virtual screening to have a positive impact on the discovery process. Here, the current strengths and weaknesses of the technology are discussed, and emphasis is placed on aspects of the work-flow of a virtual screening campaign, from preparation through to post-screening analysis.