J. Kung and G.-C. Rota, in their 1984 paper, write: "Like the Arabian phoenix rising out of its ashes, the theory of invariants, pronounced dead at the turn of the century, is once again at the forefront of mathematics". The book of Sturmfels is both an easy-to-read textbook for invariant theory and a challenging research monograph that introduces a new approach to the algorithmic side of invariant theory. The Groebner bases method is the main tool by which the central problems in invariant theory become amenable to algorithmic solutions. Students will find the book an easy introduction to this "classical and new" area of mathematics. Researchers in mathematics, symbolic computation, and computer science will get access to a wealth of research ideas, hints for applications, outlines and details of algorithms, worked out examples, and research problems.