This review provides data on the production of odor compounds, such as geosmin and 2-methylisoborneol, which cause taste and odor events. Off-odors and tastes are not dangerous to humans, but their appearance adversely affects the organoleptic properties of water, deteriorates its quality and leads to significant increase of the water purification technologies cost. The review provides an overview of the main properties of odor compounds, their producers, the features of their production and release by Cyanobacteria, methods of removal from water.