During its long-lasting history, the Λ(1405) has become a benchmark for our understanding of the SU(3) hadron dynamics. Starting with its theoretical prediction and later experimental verification, until the most recent debates on the existence of the second broad pole, it emerged as a fruitful research area sparking many theoretical and experimental developments. This review intends to provide the reader with the current status of research on the Λ( 1405)-resonance, reflecting on historical, experimental and theoretical developments. A common database for experimental results and a comparison of most recent theoretical approaches will be provided in the last two parts of this manuscript.