Seaweeds are a major contributor to global marine aquaculture production, with the biomass being mainly used, among others, for human nutrition, pharmaceutics, and cosmetics. However, green seaweeds are severely underrepresented, compared to red and brown macroalgae. Caulerpa lentillifera (known as “sea grapes” or “green caviar”) is an edible, green seaweed with a distinctive texture and various nutritional benefits. In this review, all articles on sea grapes published between 1900 and October 2022 and found in the scientific citation databases Scopus and Web of Science (search string: “caulerpa” AND “lentillifera”) were grouped by research topic and the intended application following the PRISMA approach. 51% of the 130 articles included in the review focused on the topic of “Biochemical composition”, followed by “Water treatment” (18%) and “Ecophysiology” (15%). The most prominent application was “Pharmaceutics”, followed by “Cultivation” and “Fundamental research”. In order to provide a knowledge base to researchers and practitioners of C. lentillifera aquaculture, research that was simultaneously grouped under one of the topics “Biochemical composition”, “Water treatment”, or “Ecophysiology” and the applications “Cultivation”, “Nutritional value” or “Post-harvest” was summarized in more detail. Light management of sea grapes, their use as a high-value co-culture species and the capacity to bioremediate nutrients, as well as their short shelf-life were identified as important areas of research interest. The assessment revealed several knowledge gaps, for example the need for intra-species comparisons of C. lentillifera biochemical composition across spatial and temporal scales.