Liquid crystal (LC) spatial light modulators provide the unique possibilities of recording thin (plain) dynamic holograms, which can be, in particular, used for the dynamic holographic correction of various optical distortions. The chapter presents the summarized results evolved over the period of 20 years toward development of the said technique. We begin with the basics of dynamic holographic correction and the outline of requirements to LC elements, used for such a purpose. Then we describe the results of design, fabrication and characterization of such elements on the base of nematic and ferroelectric LC compositions, and of their implementation in various real correction schematics. We also discuss some novel techniques and schemes, providing the further improvement of LC holographic correction techniques. These are the two-wavelength dynamic holography, which makes it possible to provide the arbitrary scaling of the wavefront distortions, and thus, solving some problems of adaptive optics. We also discu