Buffalo has been an integral part of livestock agriculture in Asia for over 5000 years producing draft power, milk, meat and hides. Even today, 153 million buffalo provide 76 734 759 t of milk and 3 089 875 t of meat, and in several countries, up to 30% of the draft power for agricultural operations. Unfortunately, however, the species did not receive the attention of the policy makers and the researchers in accordance with its merits, which resulted in buffalo population decline in several eastern Asian countries. The present review highlights the importance of buffalo to the economic and social fabric, especially of the small and landless rural poor, of several countries in Asia. Some major national and international efforts being made to improve buffalo production have also been cited.