The IPv6 is a latest version of Internet Protocols, designed to overcome the scalability and service limitations of the IPv4. The useable address range of IPv4 is decreasing day by day. Besides from fulfilling the shrinking IP address capacity, IPv6 has many other benefits, as well. IPv6 is still under development and new IPv6 devices are being produced. The transition from IPv4 to IPv6 is one of the hottest issues being focused in the communication industry. The complete transition from IPv4 to IPv6 will take a significant time. IETF has designed mechanisms for concurrent working of the two protocols on the internet, for facilitating the smooth transition. This research paper reviews the IP addressing scheme with introduction to IPv4 and IPv6, followed by the need and benefits of IPv6. Then few techniques relating to the IPv4 to IPv6 transition have been discussed. In the end, an action plan has also been proposed for the transition.