Fluctuations of thermodynamic quantities are fundamental to the study of QGP phase transition. Some of the earliest predicted signatures of QGP formation were made based on the relations among various thermodynamical variables. It has been suggested that fluctuations will be strongly enhanced near the QGP critical point. Recent lattice computations have shown that interesting fluctuation patterns in higher moments might be present at small chemical potentials which prevail at RHIC and LHC energies. In this talk, we will review recent theoretical calculations, results from experiments at SPS and RHIC as well as predictions for ALICE experiment at LHC. The results will be presented in terms of mean transverse momentum, multiplicity, net charge fluctuations, balance functions and disoriented chiral condensates. Finally, we will discuss possible scenarios for new precision measurements at RHIC and LHC to probe the QCD critical point.