Increase in human population has led to intense pressure on bionetworks that provides various services vital for living organisms survival. This steered to the increase in interest in exploring the panorama and encounters of pond ecology for policy implementation, sustainable utilization that will guarantee sustainable management. This paper review the basic concepts of pond ecosystem, ecosystem service, challenges and prospects of the pond ecosystem. Relevant materials were collected, reviewed and synthesis with a view to understand the level of contribution, area of weakness therefore, the study could contributes in the area. Fish production, irrigation, groundwater storage and discharge, reduction of flash flood and aesthetic were identified as part of ecosystem services rendered by the urban pond. Garden production, research and aesthetic are some of the prospect while, waste disposing site, eutrophication, pollution are considered as some of the challenges confronting pond ecosystem.