In this review article, we want to expose a systematic development of quantum field theory on curved spacetimes. The leading principle is the emphasis on local properties. It turns out that this requires a reformulation of the QFT framework which also yields a new perspective for the theories on Minkowski space. The aim of the present work is to provide an almost self-contained introduction into the framework, which should be accessible for both mathematical physicists and mathematicians. (C) 2016 AIP Publishing LLC.