Bamboo is the building material of the past and future. It offers numerous properties that make it versatile for various applications, including construction. Its impressive strength-to-weight ratio enables it to bear substantial loads and stresses, while its good elasticity allows efficient energy absorption. However, its mechanical properties can vary based on factors such as species, age, locations, methods, and treatment. Treating bamboo is essential to enhance its properties and durability. The literature provides various natural and chemical treatments that enhance some of the properties but also reported drawbacks regarding higher temperature, content, and duration. This paper reviewed 57 articles from the Scopus database, specifically focusing on article–document-type publications from the years 2003 to 2023. Additional references were also incorporated to address concerns in properties, treatment, and standards to provide systematic understanding. With extensive assessment of the articles, the following gaps and concerns were observed, and recommendations for further study and assessment were made: the bamboo’s properties, the development of centralized guidelines and procedures for the preparation and processing; the exploration of alternative materials to reinforce bamboo without compromising its ductility; and the development of joint connections, and testing of mechanical properties considering seismic, wind and vibration. For treatment methods, the standardization of procedures using natural, chemical, or a combination. Lastly, for bamboo codes and standards, the assessment of existing codes and standards for testing the mechanical properties of bamboo, highlighting the potential limitations and areas, uniformity, and differences with all existing similar standards. By filling these gaps, it can support the reliability and robustness of bamboo as a sustainable material, fostering its promotion and adoption in the construction industry.