Millets are small‐seeded annual crops grown as cereal grains. They are known for their nutritional benefits and their role in preventing health problems. These grains are classified into major and minor millets. Kodo millet (Paspalum scrobiculatum), one of the minor millets, originated from Africa as a drought‐resistant crop and was domesticated in India in 3000 BC. It is grown in various states of India and is widely distributed in tropical and subtropical regions of the world. The Kodo seed is rich in phytochemical compounds and dietary fibers with remarkable storage properties. It can be stored for extended periods under normal storage conditions and is found as a famine crop, which means it can be used as an alternative to major cereals. Kodo millet is a rich source of phenolic compounds known for their antioxidant properties. It also contains antinutritional factors that can limit its use, but these can be reduced by proper processing methods to enhance its food applications. Different traditional methods, such as milling, decortication, roasting, germination, and fermentation, along with novel techniques such as microwave, cold plasma and ultrasound treatment significantly impact the value addition of Kodo millet and the development of various food products. Therefore, this review provides valuable information on the nutritional profile, processing methods, and food applications of Kodo millet.