This volume gathers contributions from the International Workshop on Operator Theory and Its Applications (IWOTA) held in Bangalore, India, in December 2013. All articles were written by experts and cover a broad range of original material at the cutting edge of operator theory and its applications. Topics include multivariable operator theory, operator theory on indefinite metric spaces (Krein and Pontryagin spaces) and its applications, spectral theory with applications to differential operators, the geometry of Banach spaces, scattering and time varying linear systems, and wavelets and coherent states.