Vortex induced vibrations (VIV) is a widely explored fluid-structure interaction problem with immense applications ranging from heat exchanger tube arrays, power transmission lines to offshore structures. VIV of circular cylinders stands as one of the classical problems in this area, wherein the cylinder undergoes high amplitude vibrations due to the ‘lock-in’ phenomenon. The dynamics of the structure and flow field are well studied in the literature for a varied range of flow and structural parameters. However, real-life situations can be characterized by the presence of ‘noise’, which are fluctuations or uncertainties associated with the incoming flow or geometrical parameters of the system. The dynamical characteristics of the VIV system in the presence of such stochastic fluctuations are a relatively lesser-explored domain of research and not much documentation on this subject is available. In this chapter, we aim to present a comprehensive review of stochastic dynamics of VIV systems, especially we will highlight the presence of novel dynamical states and its implication on the coupled system behaviour that have been reported recently by us. It is known from experimental studies that free-stream noise can increase the response amplitudes of the structure and thus acts as a source of negative aerodynamic damping. Analytical works which model turbulence in experiments as stochastic processes use asymptotic expressions of Lyapunov exponents to determine the stability boundaries of VIV systems. Studies based on mathematical models investigating stochastic dynamics have modelled noise as additive and parametric, in the equations governing the VIV system. The current chapter mainly reviews the literature on stochastic VIV studies based on mathematical models that include wake oscillator models, single degree of freedom and force decomposition models, from a nonlinear dynamics perspective. Brief reviews on previous numerical studies using uncertainty quantification techniques in high fidelity solvers and key experimental results emphasizing the role of free-stream noise are also presented.