Nitrogen occurs as inert and inaccessible dinitrogen gaseous form (N2) in the atmosphere. Biological nitrogen fixation is a chief process that makes this dinitrogen (N2) accessible and bioavailable in the form of ammonium (NH4+) ions. The key organisms to fix nitrogen are certain prokaryotes, called diazotrophs either in the free‐living form or establishing significant mutual relationships with a variety of plants. On such examples is ~95–100 MY old incomparable symbiosis between dicotyledonous trees and a unique actinobacterial diazotroph in diverse ecosystems. In this association, the root of the certain dicotyledonous tree (~25 genera and 225 species) belonging to three different taxonomic orders, Fagales, Cucurbitales, and Rosales (FaCuRo) known as actinorhizal trees can host a diazotroph, Frankia of order Frankiales. Frankia is gram‐positive, branched, filamentous, sporulating, and free‐living soil actinobacterium. It resides in the specialized, multilobed, and coralloid organs (lateral roots but without caps), the root nodules of actinorhizal tress. This review aims to provide systematic information on the distribution and the phylogenetic diversity of hosts from FaCuRo and their micro‐endosymbionts (Frankia spp.), colonization mechanisms, and signaling pathways. We also aim to provide details on developmental and physiological imperatives for gene regulation and functional genomics of symbiosis, phenomenal restoration ecology, influences of contemporary global climatic changes, and anthropogenic impacts on plant–Frankia interactions for the functioning of ecosystems and the biosphere.