Peer review is the cornerstone of scientific publication. After submission of a research paper, the editors rely on the reviewers’ report for making a decision assuming the expertise of peers in the field of research. Many early career researchers or academicians do not have adequate exposure to peer review process and institutions rarely provide training for developing peer review skills. With this context, this review paper examines the current state of peer review in scientific publishing and provides a practical guideline for conducting peer review. In addition, this article provides a comprehensive resource for scholars and researchers, highlighting the importance of peer review, and offering insights into how it can be optimized for maximum impact on scientific progress.