We review the basic mechanisms of neutrino mass generation and the corresponding structure of the lepton mixing matrix. We summarize the status of three-neutrino oscillation parameters as determined from current observations, using state-of-the-art solar and atmospheric neutrino fluxes, as well as latest experimental data as of September 2007. We also comment on recent attempts to account for these results and to understand flavour from first principles. We discuss extensively the prospects for probing the strength of CP violation in two near term accelerator neutrino oscillation experiments, T2K and NOvA, as well as possible extensions such as T2KK and a second large off-axis detector near the NOvA detector. We also briefly discuss the possibility of probing the effect of Majorana phases in future neutrinoless double beta decay searches and discuss other implications of leptonic CP violation such as leptogenesis. Finally we comment on the issue of robustness of the current oscillation interpretation and possible ways of probing for non-standard neutrino interactions in precision oscillation studies.