APETALA2/ethylene response factor (AP2/ERF) transcription factors are involved in biological and abiotic stress response, plant development, and growth. AP2/ERF genes are classified into five families (AP2, DREB, ERF, RAV, and soloist), and most genes belong to DREB and ERF families. So far, genomic analysis of DREB and ERF family genes of various plant species has been performed, and classifications based on the homology of AP2/ERF-specific DNA binding domain, arrangement of exons and introns, and similarity of group-specific conserved motifs have been conducted. These classifications provide plausible information for the prediction of AP2/ERF gene function. In this paper, an overview of the classification, structure, evolution, and function of AP2/ERF genes is described, and the functional properties and regulatory mechanisms of ERF family genes that have been identified are summarized by group according to the functional classification of Arabidopsis ERF family genes. This shows that group-specific conserved motifs of Arabidopsis ERF family genes are closely linked with group-specific functions and regulatory mechanisms, indicating that the effective functional prediction of ERF family genes through such a classification scheme can be usefully applied to the trait improvements of various plants.