The price of traditional sources of nutrients used in animal feed rations is increasing steeply in developed countries due to their scarcity, high demand from humans for the same food items, and expensive costs of raw materials. Thus, one of the alternative sources is coconut parts or coconut as a whole fruit. Coconut is known as the ‘tree of abundance’, ‘tree of heaven’, and ‘tree of life’ owing to its numerous uses, becoming a very important tree in tropical areas for its provision of food, employment, and business opportunities to millions of people. Coconut contains a rich profile of macro and micronutrients that vary depending on the parts and how they are used. It is frequently chosen as an alternative source of protein and fiber. Its uses as an antibacterial agent, immunomodulant, and antioxidant further increase its importance. Using coconut oil in ruminant feed helps to minimize methane gas emissions by 18–30%, and to reduce dry matter intake up to 4.2 kg/d. The aquaculture sectors also use coconut palm as an alternative source because it significantly improves the digestion, growth, lipid metabolism, health, and antioxidative responses. However, coconut is not widely used in poultry diets although it has adequate amount of protein and carbohydrate due to anti-nutritional factors such cellulose (13%), galactomannan (61%), and mannan (26%). This review considered the importance and potential of coconut usage as an alternative ingredient in feed and supplements in various livestock sectors as it has plentiful nutrients and functional qualities, simultaneously leading to reduced feed cost and enhanced production.