Hyperspectral imaging has emerged as an effective powerful tool in plentiful military, environmental, and civil applications over the last three decades. The modern remote sensing approaches are adequate for covering huge earth surfaces with phenomenal temporal, spectral, and spatial resolutions. These features make HSI more effective in various applications of remote sensing depending upon the physical estimation of identical material identification and manifold composite surfaces having accomplished spectral resolutions. Recently, HSI has attained immense significance in the research on safety and quality assessment of food, medical analysis, and agriculture applications. This review focuses on HSI fundamentals and its applications like safety and quality assessment of food, medical analysis, agriculture, water resources, plant stress identification, weed & crop discrimination, and flood management. Various investigators have promising solutions for automatic systems depending upon HSI. Future research may use this review as a baseline and future advancement analysis.