Wave and oscillatory activity of the solar corona is confidently observed with modern imaging and spectral instruments in the visible light, EUV, X-ray and radio bands, and interpreted in terms of magnetohydrodynamic (MHD) wave theory. The review reflects the current trends in the observational study of coronal waves and oscillations (standing kink, sausage and longitudinal modes, propagating slow waves and fast wave trains, the search for torsional waves), theoretical modelling of interaction of MHD waves with plasma structures, and implementation of the theoretical results for the mode identification. Also the use of MHD waves for remote diagnostics of coronal plasma - MHD coronal seismology - is discussed and the applicability of this method for the estimation of coronal magnetic field, transport coefficients, fine structuring and heating function is demonstrated.