Monostroma (Ulotrichales, Chlorophyta) is the most intensively cultivated genus among green seaweeds, accounting for over 90% of total green algal cultivation. It is commonly found in the eulittoral zones of marine and estuarine habitats, thus contributing significantly to the ecology of the coastal ecosystem. Morphologically, the frond of Monostroma is blade-like with eponymous one-cell thickness; therefore, it is also known as "Slender sea lettuce". Monostroma nitidum is often used for salad ingredients, boiled tsukudani, soups, etc., due to its health benefits. Monostroma kuroshiense is commercially cultivated in East Asia and South America for the edible product "hitoegusa-nori" or "hirohano-hitoegusa nori", popular sushi wraps. This genus remains one of the well-studied seaweed genera for ecophysiology, habitat-dependent seasonality of its growth pattern, gametangial ontogeny and phylogenetics. Moreover, rhamnan sulfate (RS), a sulfated polysaccharide, is the main component of the fiber extracted from M. nitidum and studied for various biological activities. This review presents the taxonomy, morphology, anatomy, life history, distribution, ecology, physiology, cultivation and harvesting, chemical composition, and biotechnological applications of this genus.