Miscarriages of justice are an eventuality innate in the exercise of the judiciary function. It is therefore necessary for the legislation to set forth the conditions under which the persons who have suffered a miscarriage of justice are eligible for compensation. This chapter analyses the elements of the statutory compensation regime laid down by the Italian code of criminal procedure for miscarriages of justice stricto sensu, namely the ones arising from an exoneration upon judicial review of a final judgment of conviction. Specifically, the matter will first be analysed in light of the relevant constitutional and supranational principles, in order to be able to deal with the different theories on the legal nature of the remedy. Subsequently, a description will be provided of the provisions laid down in the Italian code of criminal procedure on the compensation schemes for miscarriages of justice resulting from a wrongful final conviction (legislative requirements, bars to compensation, proceedings and criteria for compensation).