Butia is a genus of palms (Arecaceae), autochthonous to South America with great potential for income generation. In order to better utilize and maintain the currently available genetic resources, it is necessary to pursue studies directed towards the taxonomic and systematic characterization (morphological, phenotypic, molecular, chemical, and reproductive) and conservation of Butia spp. Despite the long use of this plant, a limited number of scientific studies and publications are available on Butia spp., with a significant proportion of the literature written in Portuguese. This review intends to compile all the available information on the genus, covering several aspects of the plant and its potential applications.