Soil has a major role in sequestering atmospheric CO2. This has further benefits and potential to improve soil fertility and food production, mitigate climate change, restore land degradation, and conserve ecosystem biodiversity. However, its health is increasingly being threatened by the growing population, land degradation and climate change effects. Despite its importance, soil organic carbon (SOC) is understudied in the tropics. This paper reviews how managing forests in tropical ecosystems can benefit SOC sequestration and land restoration. Sequestered SOC has the potential to improve soil fertility, as well as to reduce both land degradation and atmospheric CO2 emissions. It further improves soil structure, aggregation and water infiltration, enhances soil faunal activity and boosts nutrient cycling (C, N, P and S). Managing forest ecosystems is crucial to boost C sequestration, mitigate climate change and restore degraded lands, besides other ecosystem services they provide. Apart from managing natural forests and planted forests, afforesting, reforesting marginal or degraded lands especially when associated with specific practices (organic residue management, introducing nitrogen-fixing species) boost C storage (in both soil and biomass) and foster co-benefits as soil health improvement, food production, land restoration and mitigation of climate change. Improved soil health as a result of sequestered C is confirmed by enhanced physical, biological and chemical soil fertility (e.g., sequestered C stability through its link to N and P cycling driven by soil biota) which foster and sustain soil health.