Nonalcoholic fatty liver disease (NAFLD), a condition that affects 30% of the world’s population, is one of the leading causes of chronic liver disease (CLD) and liver transplantation. Although exact data are not available in many developing countries, its prevalence is increasing at alarming rates in many studies from these countries. The rising prevalence of NAFLD has paralleled the increasing rates of obesity and metabolic syndrome. Hence, more recently, it has been renamed metabolic dysfunction-associated fatty liver disease (MAFLD). Since several studies have demonstrated an association between NAFLD and an increased risk of cardiovascular events, it has been proposed that NAFLD may be an independent risk factor for atherosclerosis. However, the data is conflicting in this regard and more studies are needed. In this review, we discussed the epidemiology, risk factors, clinical presentation, diagnosis, classification, and complications of NAFLD to help increase awareness among the medical community of this looming epidemic of metabolic liver injury.