Shear wave velocity (Vs) is a critical parameter in geophysical investigations, micro-zonation research, and site classification. In instances where conducting direct tests at specific locations is challenging due to equipment unavailability, limited space, or initial instrumentation costs, it becomes essential to estimate Vs directly, using empirical correlations for effective site characterization. The present review paper explores the correlations of Vs with the standard penetration test (SPT) for geotechnical site characterization. Vs, a critical parameter in geotechnical and seismic engineering, is integral to a wide range of projects, including foundation design and seismic hazard assessment. The current paper provides a detailed analysis of the key findings, implications for geotechnical engineering practice, and future research needs in this area. It emphasizes the importance of site-specific calibration, the impact of geological background, depth-dependent behavior, data quality control, and the integration of Vs data with other geophysical methods. The review underlines the continuous monitoring of Vs values due to potential changes over time. Addressing these insights and gaps in research contributes to the accuracy and safety of geotechnical projects, particularly in seismic-prone regions.