Biochar or pyrogenic carbon, obtained from the thermo‐chemical conversion of biomass in an anaerobic or oxygen‐limited environment, has been in use in agriculture perhaps as far back as the Neolithic. Its unique soil‐ameliorating properties render it suitable for environmental remediation as well as sustainable crop production. It improves soil physicochemical properties and plant nutrient availability, reduces toxic chemical load, facilitates biodiversity, and reduces the emission of greenhouse gases thereby subsiding global warming. The application of biochar can reduce soil erosion, improve soil hydrological properties, and help soil microbial dynamics. It has synergistic effects on plant growth, disease‐pest resistance, and crop yield per unit area and time. Due to its soil‐ameliorative effects and soil and water‐conserving ability, it can be used beneficially in organic farming, permaculture, dryland farming, conservation agriculture, and land remediation. Cheaper production cost, simple, and easy pyrolytic technologies, easy availability of feedstock and bio‐wastes in many developing countries, and its long‐term effects on soil not only build up the soil carbon pool but also help support small and marginal farmers in resource‐rich but economically deprived countries for sustainable agriculture and land development. In this review, efforts have been made to elucidate various uses of biochar, its characteristics and applications effects on soil systems, land development, and sustainable agricultural production toward achieving United Nations Sustainable Development Goals (UN‐SDGs).