Small ruminant lentivirus (SRLV) is a group of viruses of the Retroviridae family, shared between caprine, ovine and wild ruminants. It is responsible for a systemic infection that can affect the lungs, central nervous system, mammary gland and joints, causing chronic, insidious, and progressive diseases, seriously affecting animal health. Concurrently, it is associated with a decrease in milk production, leading to malnutrition of lambs and goat kids and to the premature slaughter of adult animals, causing substantial economic losses. This review aims to gather the latest information regarding lentivirusin small ruminants in the clinical practice, their economic importance, and diagnostic and prevention methods. Diagnosis is based on clinical, analytical, and post-mortem findings. The feasibility of imaging diagnosis is also highlighted. Preventive measures and management interventions, including the culling or segregation of positive animals, are effective options to control or even eradicate this disease. SRLV prevention strategies must be applied continuously to progressively eradicate infection.