The purpose of this study is to present the current state of knowledge regarding the theory, empirical research, determinants and consequences of occupational health and safety. It first describes the main theoretical approaches, as well as the theoretical framework and empirical results of occupational health and safety issues. Moreover, it presents an overview of the legislation framework regarding OSH issues, and the current status of empirical research on the subject in European Union countries, highlighting cross country differences. In addition, there is an attempt to identify the knowledge gaps and methodological shortcomings of the existing literature in order to contribute towards future research in the OSH field, especially in Greece. The study also seeks to investigate potential causal relationships between specific OSH indicators – variables. Furthermore, the study investigates the effect of labor earnings on workers’ psychological well-being and distress, employing data from thirty three European countries and Turkey. Moreover, the thesis argues that, although the labor markets of most industrialized countries have undergone several changes, there has been lack of attention concerning the occupational health and safety consequences of these changes. Moreover, given that there has been an increase in workplace hazards and occupational diseases, implying rising costs for social protection systems, EU countries have implemented several health and safety policies in order to improve working conditions