Macrophytes are considered key components of aquatic ecosystems and they also provide multiple benefits for humans. In this review, I identified and exemplified 26 types of ecosystem services provided by macrophytes. The most important supporting services provided by these plants are related to nutrient cycling and provisioning of habitat, but macrophytes also participate in water cycling and gases production. The presence of macrophytes and their activity enhance water purification and disease control which are important regulating services. Provisioning services are provided in the form of food at the local and global scale (e.g., rice), fiber, biochemicals, natural medicine and ornamental resources. Cultural services are provided in the form of spiritual and religious artifacts and local knowledge systems of communities which depend on macrophytes for surviving. Other cultural services are associated with educational activities, art inspiration, esthetic values in aquatic gardens and ponds, uses for leisure, recreation and ecotourism. There is evidence that the efficiency of ecosystem functioning, the provision of ecosystem services and ecosystem stability is enhanced by macrophyte diversity. Because macrophyte communities provide important benefits for humans, their conservation and restoration, where necessary, are important for human well-being.