The coronavirus disease 2019 (COVID-19) is a highly contagious pneumonia that has spread throughout the world. It is caused by a novel, single stranded RNA virus called severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). Genetic analysis revealed that, phylogenetically, the SARS-CoV-2 is related to severe acute respiratory syndrome-like viruses seen in bats. Because of this, bats are considered as a possible primary reservoir. The World Health Organization has declared the COVID-19 outbreak as a pandemic. As of May 27, 2020, more than 5,406,282 confirmed cases, and 343,562 confirmed deaths have been reported worldwide. Currently, there are no approved vaccines or antiviral drugs available against COVID-19. Newly developed vaccines are in the first stage of clinical trials, and it may take a few months to a few years for their commercialization. At present, remdesivir and chloroquine are the promising drugs for treating COVID-19 patients. In this review, we summarize the diversity, genetic variations, primary reservoirs, epidemiology, clinical manifestations, pathogenesis, diagnosis, treatment strategies, and future prospects with respect to controlling the spread of COVID-19.