In the mid 1980's, Yao presented a constant-round protocol for securely computing any two-party functionality in the presence of semi-honest adversaries (FOCS 1986). In this paper, we provide a complete description of Yao's protocol, along with a rigorous proof of security. Despite the importance of Yao's protocol to the field of secure computation, to the best of our knowledge, this is the first time that a proof of security has been published.