This paper summarizes the current state of knowledge on acrylamide formation in foods during thermal processing. The main pathway of acrylamide formation in foods is linked to the Maillard reaction, and in particular, the amino acid asparagine. Effects of several factors related to food composition and processing conditions on the formation levels of acrylamide, and also, other quality characteristics in thermally processed foods are discussed in detail. From a process control point of view, it is also addressed that there is a need to develop viable models for the estimation of acrylamide contents in heated foods during the stages of process design and optimization. Fried potato products, as one of the most encountered category of thermally processed foods, are specifically emphasized for acrylamide formation, potential ways of mitigation, and modeling its formation during frying.