Prosopis juliflora (SW) D.C. "algaroba" is an abundant invasive tree species native to South America, Central America and the Caribbean, present in arid and semi-arid zones. In Brazil, this species is widespread in the Caatinga biome, a xeric region that is going through a process of desertification. Algaroba was introduced to this region in order to promote reforestation and provide animal feed. However, this specie has adapted too well and has affected a botanical alteration of the endemic and native Caatinga specie. This has become a problem since algaroba could inhibit the growth and development of some endangered species. Therefore, it is important know the potential of algaroba and promote new uses aiming for a conscious exploitation of the use of this specie in several fields. This review aims to provide an up-to-date overview of botanical information, chemical compounds, traditional uses, pharmacological activities, as well as technological, biotechnological and toxicological aspects which could be helpful for future research in the development of new bioactive natural products. This review could help provide insights for new research aimed at both the rational exploration of bioactive metabolites and their application in new products.