This current review study covers the applications of vetiver essential oil (VEO) in phytoremediation, emphasizing its remedial capabilities in the cleaning of environmental pollutants like pesticides, fertilizers, fungicides, herbicides, heavy metals, dyes, and other industrial wastes such as chemical, mining, pharmaceutical, and other radioactive wastes. The review also emphasizes the pharmacological potential of vetiver essential oil for different applications, such as antioxidant, anti-inflammatory, antifungal, antibacterial, antitubercular, antihyperglycemic, antidepressant, hepatoprotective, and nephroprotective uses. The commercial potential of vetiver essential oil in diverse sectors, including global perspectives, is also illustrated along with demand scenarios in different sectors like food, beverage, fragrance, cosmetic and aromatherapy, hygiene, and pharmaceutical sectors. The main constituents of vetiver oil, their relative proportion, and the key findings of pharmacological studies performed using VEOs or their constituents are also summarized in this review article, with special emphasis on activity against phytopathogens.