The Brazilian Amazon has witnessed, in the last decades, an increase in the water buffalo (Bubalus bubalis) inventory, with interesting productivity results. As the Brazilian Amazon contains the main water buffalo population in the Americas, the aim of this work is to review its most relevant production systems and some peculiarities about meat and milk production in this territory. The opening section describes the Amazon Basin, the most common water buffalo breeds, a brief history of the local livestock farming beginning in 1644. Also, it presents how water buffaloes gradually replaced bovine herds, especially where the latter had a lower productive performance. The use of extensive or more intensified models is pointed out and the ecosystems in which buffaloes are raised are detailed since native or cultivated pastures can be used in floodplains or drylands. Buffalo raising is favored in the Amazon due to the climate, soil, genetic variability of forages, animal adaptability, and physical space. Thus, it is clear that buffaloes have a high potential for meat and milk production and are an alternative in the use of altered areas of the Amazon; and, in the recent past, the low profitability of buffalo farming in traditional production systems in the Amazon was the reason which made this activity economically unattractive. Most recent technologies as outdoor confinements and silvopastoral systems are pointed out as more suitable regarding land-use policies, and buffalo farming for meat and milk production fits perfectly in this context, with productivity and beneficial socioeconomic.