Vehicle-to-Grid (V2G) is a promising technology that allows the batteries of idle or parked electric vehicles (EVs) to operate as distributed resources, which can store or release energy at appropriate times, resulting in a bidirectional exchange of power between the ac grid and the dc EV batteries. This bidirectional exchange of power is realized using bidirectional power electronic converters that connect the grid with the EV battery. Most research on bidirectional converters for V2G applications focuses on using two dedicated power conversion stages – a bidirectional ac-dc conversion stage that helps in power factor correction, followed by a bidirectional dc-dc conversion stage that provides voltage matching. However, a single bidirectional ac-dc conversion stage can also facilitate V2G and grid-to vehicle (G2V) active power transfers. This paper reviews and compares the various bidirectional ac-dc and dc-dc converter topologies that facilitate V2G and G2V active power flows. Moreover, the paper discusses the various classes of charger/discharger systems reported for V2G applications, like on-board/off-board, integrated/non-integrated and conductive/inductive, and a comparative statement is made based on certain proposed criteria. Further, the current trends in the application of wide band-gap devices in high power-dense V2G capable converters and integration of renewable energy sources into EV charging/discharging infrastructures have also been discussed.