Noise reduction remains an important priority in the modern society, in particular, for urban areas and highly populated cities. Insulation of buildings and transport systems such as cars, trains, and airplanes has accelerated the need to develop advanced materials. Various porous materials, such as commercially available foams and granular and fibrous materials, are commonly used for sound mitigating applications. In this review, a special class of advanced porous materials, aerogels, is examined, and an overview of the current experimental and theoretical status of their acoustic properties is provided. Aerogels can be composed of inorganic matter, synthetic or natural polymers, as well as organic/inorganic composites and hybrids. Aerogels are highly porous nanostructured materials with a large number of meso- and small macropores; the mechanisms of sound absorption partly differ from those of traditional porous absorbers possessing large macropores. The understanding of the acoustic properties of aerogels is far from being complete, and experimental results remain scattered. It is demonstrated that the structure of the aerogel provides a complex three-dimensional architecture ideally suited for promising high-performance materials for acoustic mitigation systems. This is in addition to the numerous other desirable properties that include low density, low thermal conductivity, and low refractive index.