You'll find a complete list on the Wiki.
But, here are the most important libraries.
Audio/Video codecs
Liba52-An atsc a/52 (aka Ac3) audio decoder
Libmad-an MPEG audio decoder
Libmp eg2-An mpeg1/2 Video Decoder
Libavcodec (FFMPEG)-an extensive audio/video codec library which supports several formats like MPEG4, h263, WMV/A etc...
Libogg-An Ogg bitstream parser
Libvorbis-A Vorbis audio decoder
Libflac-a flac (free lossless audio codec) audio decoder
Libspeex-A speex (free speech codec) audio decoder
Libtheora-A theora Video Decoder
Libfaad2-An AAC audio decoder
Libdv-a DV Video Decoder (deprecated in favor of libavcodec)
Libxvidcore (Xvid)-an ISO MPEG-4 compliant video codec (deprecated in favor of libavcodec)
Libdca-a DTS coherent acoustics decoding library.
Gui framework Libraries
WxWidgets-A cross-platform C ++ GUI framework that keeps the look and feel of each platform
Qt4-a c ++ cross-platform rich client development framework
Audio/video output Libraries
Libsdl-A cross-platform multimedia library designed to provide level access to audio, and 2D video framebuffer
Miscellaneous Libraries
Libdvdcss-a library for accessing encrypted DVDs
Libdvdna v-a library for DVD Navigation
Libdvdread-a library for reading DVD-Video Images
Libdvbpsi-a library designed for decoding and generation of mpeg ts and dvb psi tables
Libopenslp-an open-source implementation of Service Location Protocol
Gettext-a set of tools that provides a framework to help applications produce multi-lingual messages
Libfreetype2-a software font engine that is designed to be small, efficient, highly customizable and portable while capable of producing high-quality output (glyph images ).
Fribidi-a free implementation of the Unicode bidirectional Algorithm
Livemedia-C ++ libraries for multimedia streaming (RTP/RTCP, RTSP, SIP)
Matroska-a new, extensible open standard audio/video container format
If you're using those libs to compile VLC for windows with mingw-GCC 3.3.1, you can use our Win32 contribs.