This article reviews the scholarly literature dealing with the perennial multipurpose crop Virginia mallow (Sida hermaphrodita (L.) Rusby; Sida in the following). In regions dominated by intensive agricultural management practices, growing Sida holds the potential to combine ecosystem services such as decreasing soil erosion, reducing nitrate leaching as well as enhancing biodiversity, with economic profit for the farmer. After promising biomass yields of Sida were reported from studies performed in Poland about 15 years ago, the interest in this plant species has continuously increased, and different utilization pathways were examined, predominantly by researchers in Poland and Germany. At present, however, a comprehensive overview that summarizes the different lines of research performed regarding the use of Sida is lacking. This review aims at closing this gap. After providing background information on Sida, we summarize the main results obtained from investigations concerning biomass yields, fertilization effects, key findings concerning direct combustion, biogas production, steam gasification, phytoremediation, and alternative utilization pathways. Thereafter, we highlight important aspects of Virginia mallow cultivation practices, including first estimates regarding the costs involved. Finally, we point to existing research gaps. Summarizing the available literature on Sida, we aim at raising the interest of scientists and farmers in this plant species further and to show where future research might tie in with, as the successful cultivation of Sida might represent a worthwhile strategy to transform current agricultural practices in Central Europe into approaches that are more sustainable and resilient against future challenges.