It is increasingly recognized that there are a heterogeneous range of symptoms within the syndrome of schizophrenia and that some of these also occur frequently within other psychiatric conditions. An approach similar to that in neuropsychology, where cases are grouped based on a discrete deficit, or in this case a discrete symptom, rather than a cause or diagnosis, may be useful in exploring the neural correlates of psychotic symptomatology. Functional neuroimaging provides an excellent tool for investigating the in vivo cortical function of patients with schizophrenia. Auditory verbal hallucinations are one of the most commonly occurring psychotic symptoms in schizophrenia; and this paper examines the progress that has been made in utilizing neuroimaging techniques to investigate auditory hallucinations in schizophrenia and review potential implications for treatment and future directions for research.