With the advent of newer devices for measuring intracranial pressure (ICP) and cerebral metabolism, more alternatives continue to rise aiming to control ICP. This manuscript presents a proposed analysis of different ICP monitoring devices in order to make appropriate selection of them in our clinical setting including general and pediatric applications. A systematic review of the literature was made analyzing the technical advances in ICP monitoring. The recent in vitro and in vivo tests as well as mathematical/computer models were reviewed. Practical applications of principles were discussed and compared based on the mode of pressure transformation. A ventricular catheter connected to an external strain gauge transducer or catheter tip pressure transducer device is considered to be the most accurate method of monitoring ICP and enables therapeutic CSF drainage. The significant infections or hemorrhage associated with ICP devices causing patients morbidity are clinically rare and should not deter the decision to monitor ICP. Parenchymal catheter tip pressure transducer devices are advantageous when ventricular ICP cannot be obtained or if there is an obstruction in the fluid couple, though they have the potential for significant measurement differences and drift due to the inability to recalibrate. Subarachnoid or subdural fluid-coupled devices and epidural ICP devices are currently less accurate. With an increasing miniaturization of the transducers, fiberoptic systems have been developed, however, there is a problem of measurement accuracy during the period of patient monitoring and external calibration should be performed frequently to ensure constant accuracy. Ventriculostomies continue to have a pivotal role in ICP control. With a rational understanding of the applications and limitations of the different ICP monitoring devices, the outcome for critically ill neurological patients is optimized.