We consider unitary simple vertex operator algebras whose vertex operators satisfy certain energy bounds and a strong form of locality and call them strongly local. We present a general procedure which associates to every strongly local vertex operator algebra V a conformal net A_V acting on the Hilbert space completion of V and prove that the isomorphism class of A_V does not depend on the choice of the scalar product on V . We show that the class of strongly local vertex operator algebras is closed under taking tensor products and unitary subalgebras and that, for every strongly local vertex operator algebra V , the map W → A_W gives a one- to-one correspondence between the unitary subalgebras W of V and the covariant subnets of A_V . Man...