Eucalyptus is the second most widely planted multipurpose woody tree species in the world. It is a commercially important hardwood tree for paper and wood industries. In the past two decades, various research groups reported different genetic transformation protocols and attempts towards development of transgenic eucalyptus. Much of the work related to its genetic improvement through transgenic technology has been undertaken by private companies that keep the data confidential, patented and often share only a part of the scientific information as publications. The important areas which received scientific attention are wood quantity, quality, stress resistance and rootability. The present review deals with scientific advancements and insights made through the development of transgenic eucalyptus.