The 120 Days of Sodom and Other Writings  by the Marquis De Sade

Considered the father of sadism, the Marquis De Sade takes the reader through a thirty-day sexual feast of depravity, pain and cruelty. Considered disgusting by some, twisted by others, and merely decadent by the people in the book, the orgy of excess in this novel is interesting and oftentimes frightening.

The Story of O  by Pauline Reage

Considered one of the premier BDSM books, this is the story of a submissive Parisian woman and her journey from a normal life to a life of sexual servitude. A frightening yet arousing story of a woman who will do anything to surrender to her lover and his dominant ideas.

Exit to Eden  by Anne Rice

The story of a tropical island bdsm resort where fantasies become reality. This is the story of one of the slaves and the woman who is in charge of the resort.

Sleeping Beauty Trilogy  by Anne Rice

Sleeping Beauty is retold as a story of dominance and submission. Vivid descriptions and intense scenes make these a great read.

These books are also available as individual titles:

I was a teenage dominatrix  by Shawna Kenney

This is the story of a woman who worked her way through college as a dominatrix. She is now one of the editors of the famous WHAP magazine.

First Training: Victorian Style Femdom Writings  

This book is a must read for those who enjoy victorian style femdom literature. It is a grouping of short stories that explore the fairer sex's power.

Spanked Husbands, Satisfied Wives  by Susan Flannery

A WHAPesque book that explores the idea that a submissive and well trained husband is a happy husband. Written by one of the women who run WHAP magazine, this book explores ideas for the woman looking to keep her marriage happy and healthy by dominating her husband.