Lichens, complex symbiotic associations between fungi and photosynthetic partners, are widespread in terrestrial ecosystems but remain poorly studied in tropical dry forests (TDFs). This review synthesizes current knowledge on the diversity, ecological roles, adaptive traits, and ethnobotanical uses of lichens in TDFs, with a focus on the Neotropics. As most lichens discussed here are crustose species that inhabit tree bark, this paper also provides a thoughtful review of the origin, distribution, and highly heterogeneous floristic composition of TDFs, which directly shape lichen habitats. It discusses how lichens have evolved to cope with seasonal water stress, emphasizing desiccation tolerance as a key feature of the symbiosis. This review also explores lichen community composition, interactions with host trees, microclimatic conditions, herbivory, and soil crust formation. Despite evidence of high species richness, functional diversity, and ecological importance, lichens in TDFs are largely overlooked in conservation strategies. Moreover, several regions remain vastly understudied, and many species likely remain undescribed. Ethnolichenological practices, though scarce, underscore the cultural and medicinal value of these organisms. Given the high rates of habitat loss and endemism in TDFs, there is a pressing need to expand research on lichen diversity and to investigate the evolutionary origins of their survival strategies. The conservation of these lichens is inseparable from the conservation of TDFs themselves. Understanding how lichens adapt to the harsh and variable conditions of TDFs is essential for integrating them into biodiversity conservation and ecosystem restoration frameworks.