Wetting of deformable substrates has gained significant interest over the past decade due to its extensive applications and uses. This interest has developed due to technological advances which are able to capture interfacial behavior taking place when a liquid droplet is placed on a deformable substrate. Researchers have developed different theories to explain processes taking place in the process of wetting of deformable/soft substrates. For the scope of this review, we will consider the fluid to be Newtonian, partially wetting, and surface forces are incorporated with the help of disjoining/conjoining pressure acting in the vicinity of the apparent, three-phase contact line. The following subjects are briefly reviewed: (i) Equilibrium of droplets on soft substrates. It is shown that properties of the disjoining/conjoining pressure isotherm and properties of the deformable substrate determine both the shape of the liquid droplet and deformation of the substrate; (ii) Equilibrium conditions of droplets on deformable substrates. It is shown that for a droplet to be at equilibrium on a deformable substrate under consideration, Jacobi’s sufficient condition is satisfied; (iii) Hysteresis of contact angle of sessile droplets on deformable substrates. It is shown that as the elasticity of the deformable substrate is increased, both advancing and receding contact angles are reduced.