The oil palm (Elaies guineensis Jacq) is the largest produced and highly traded vegetable oil globally yet has the lowest cost of production and significantly higher productivity compared to other oil crops. The crop has the potential of alleviating poverty for smallholders and lifting the economies of countries with large scale production notably, Malaysia and Indonesia and currently on high demand for use as biofuel feedstock. Irrespective of these advantages of the oil palm, there is a global concern on the devastating impact of the crop on the environment and ecosystem during plantation developments and expansions. Deforestation, biodiversity loss, water and air pollution and toxic compounds from palm oil mill effluents (POME) are some of the negative impacts of the oil palm. For the industry to be more beneficial and impactful globally, sustainability strategies becomes urgent need. Sustainability strategies such as increasing the yield of oil palm, precision agriculture, sustainability certification, support for smallholders and circular economy have been put across to curtail the negative impacts of oil palm expansion.