Modern agriculture represents an economic sector that can mainly benefit from technology innovation according to the principles suggested by Industry 4.0 for smart farming systems. Greenhouse industry is significantly becoming more and more technological and automatized to improve the quality and efficiency of crop production. Smart greenhouses are equipped with forefront IoT- and ICT-based monitoring and control systems. New remote sensors, devices, networking communication, and control strategies can make available real-time information about crop health, soil, temperature, humidity, and other indoor parameters. Energy efficiency plays a key role in this context, as a fundamental path towards sustainability of the production. This paper is a review of the precision and sustainable agriculture approaches focusing on the current advance technological solution to monitor, track, and control greenhouse systems to enhance production in a more sustainable way. Thus, we compared and analyzed traditional versus model predictive control methods with the aim to enhance indoor microclimate condition management under an energy-saving approach. We also reviewed applications of sustainable approaches to reach nearly zero energy consumption, while achieving nearly zero water and pesticide use.