We discuss the motivation, theory, and formulation of the ab initio No-Core Shell Model (NCSM). In this method the effective Hamiltonians are derived microscopically from realistic nucleon-nucleon (NN) and theoretical three-nucleon (NNN)potentials, as a function of the finite harmonic-oscillator (HO) basis space. We present converged results for the A = 3 and 4 nucleon systems, which are in agreement with results obtained by other exact methods, followed by results for p-shell nuclei. Binding energies, rms radii, excitation spectra, and electromagnetic properties are discussed. The favorable comparison with available data is a consequence of the underlying NN and NNN interactions rather than a phenomenological fit.