As the various kinds of Voice over IP (VoIP) services appear, more and more people begin to use the service of VoIP. Peer-to-peer (P2P) network has a decentralized structure with good scalability, robustness and fault-tolerant capability. It is therefore suitable for VoIP service. P2P VoIP has the properties of self-organization, privacy and resource sharing. This paper analyzes the characteristics of several P2P systems and investigates the VoIP service over P2P networks. The benefits and disadvantages of P2P VoIP are listed in the article. Finally, the current progress and future development of P2P VoIP are given as concluding remarks.