Lexical Simplification (LS) is the task of substituting complex words within a sentence for simpler alternatives while maintaining the sentence’s original meaning. LS is the lexical component of Text Simplification (TS) systems with the aim of improving accessibility to various target populations such as individuals with low literacy or reading disabilities. Prior surveys have been published several years before the introduction of transformers, transformer-based large language models (LLMs), and prompt learning that have drastically changed the field of NLP. The high performance of these models has sparked renewed interest in LS. To reflect these recent advances, we present a comprehensive survey of papers published since 2017 on LS and its sub-tasks focusing on deep learning. Finally, we describe available benchmark datasets for the future development of LS systems.