Abstract: The LIT method has allowed ab initio calculations of electroweak cross sections in light nuclear systems. This review presents a description of the method from both a general and a more technical point of view, as well as a summary of the results obtained by its application. The remarkable features of the LIT approach, which make it particularly efficient in dealing with a general reaction involving continuum states, are underlined. Emphasis is given on the results obtained for electroweak cross sections of few-nucleon systems. Their implications for the present understanding of microscopic nuclear dynamics are discussed.