Current clinical studies involve multidimensional high-resolution images containing an overwhelming amount of structural and functional information. The analysis of such a wealth of information is becoming increasingly difficult yet necessary in order to improve diagnosis, treatment and healthcare. Voxel-wise analysis is a class of modern methods of image processing in the medical field with increased popularity. It has replaced manual region of interest (ROI) analysis and has provided tools to make statistical inferences at voxel level. The introduction of voxel-based analysis software in all modern commercial scanners allows clinical use of these techniques. This review will explain the main principles, advantages and disadvantages behind these methods of image analysis.