The Aral Sea crisis stands as one of the most catastrophic anthropogenic environmental disasters of the twentieth century. Once the fourth-largest inland water body on Earth, the Aral Sea has lost more than 90% of its original volume since the early 1960s, primarily as a result of large-scale Soviet-era irrigation diversions from its two major feeder rivers, the Amu Darya and the Syr Darya. This article presents a comprehensive, multi-disciplinary analysis of the ecological and socio-economic consequences of this ongoing desiccation process. Using a systematic review of peer-reviewed literature, remote sensing datasets, United Nations Environment Programme (UNEP) reports, and field surveys conducted between 2015 and 2023, we examine changes in regional climate, soil degradation, biodiversity loss, dust storm intensification, human health outcomes, economic decline, and displacement of local populations. Our findings demonstrate that the ecological collapse of the Aral Sea basin has produced a cascading crisis affecting an estimated 5 to 6 million people across Uzbekistan, Kazakhstan, and the autonomous Republic of Karakalpakstan. Soil salinity on the exposed lakebed (known as the Aralkum Desert) has reached levels exceeding 25 g/kg, rendering the former lake floor an active source of salt and pesticide-laden aerosols. Annual economic losses attributable to the disaster are estimated at USD 1.7 billion across the region. We also evaluate current remediation strategies, including the Kokaral Dam project in Kazakhstan, and assess their efficacy. The study concludes with evidence-based policy recommendations emphasizing integrated water governance, international cooperation, and sustainable land management as essential pillars of long-term recovery.