The dispersal of primitive elephantines and monodactyl equids in Eurasia has long been regarded as representative of a substantial turnover in mammal faunas, denoting the spread of open environments linked to the onset of cold and dry conditions in the Northern Hemisphere. During the 1980s, this event was named the “Elephant-Equus event” and it was correlated with the Gauss-Matuyama reversal, today corresponding to the Pliocene-Pleistocene transition and the beginning of the Quaternary, dated at ~2.6 Ma. Therefore, the Elephant-Equus event became a concept of prominent biochronological and paleoecological significance, especially in western Europe. Yet, uncertainties surrounding the taxonomy and chronology of early “elephant” and “Equus”, as well as conceptual differences in adopting (or understanding) the Elephant-Equus event as an intercontinental dispersal event or as a stratigraphic datum, engendered ambiguity and debate. Here, we provide a succinct review of the Elephant-Equus event, considering separately the available evidence on the “elephant” and the “Equus”. Elephantines dispersed out of Africa during the Pliocene (Piacenzian). Their earliest calibrated occurrences from eastern Europe date at ~3.2 Ma and they are usually referred to Mammuthus rumanus, although the allocation of several samples to this species is tentative. Available dating constraints for other localities do not resolve whether the dispersal of Mammuthus was synchronous across Eurasia, but this possibility cannot be ruled out. The spread of Mammuthus was part of an intercontinental faunal exchange between Africa and Eurasia that occurred during the Piacenzian, but in this scenario, Mammuthus is quite unique in being the only genus of African origin dispersing to western Eurasia. The arrival of monodactyl equids from North America coincides with the Pliocene-Pleistocene transition, with several occurrences dated or calibrated at ~2.6 Ma and no compelling evidence prior to this age. In Europe, early monodactyl equids are often aligned to Equus livenzovensis, but the material from the type locality of this species is chronologically time-averaged and taxonomically heterogeneous, and western European samples are seldom abundant or informative. Regardless, this does not diminish the biochronological significance of the “Equus event”. Indeed, while the term “Elephant-Equus event” should no longer be used, as the appearance of elephantines in the European fossil record markedly precedes that of monodactyl equids, we endorse the use of the “Equus event” as a valid alternative to refer to the intercontinental dispersal event that characterizes the middle Villafranchian faunal turnover, epitomized by but not limited to monodactyl equids.