We discuss the current status of the QCD simulations on the lattice and outline the perspectives for precision computation of hadronic quantities relevant to flavor physics phenomenology. High precision results, that have been recently obtained on the lattice for selected quantities, such as the kaon decay constant and the K-l3 form factor, demonstrated the feasibility of a precision comparison between theory and experiment in the kaon sector. A similar level of accuracy has not yet been reached in the D-(s)- and B-(s)-meson decays, but the existing methodology, as well as increased computing resources, allow for substantial improvement in the near future. (C) 2011 Academie des sciences. Published by Elsevier Masson SAS. All rights reserved