Solidago canadensis L. (Canadian goldenrod) is a widely distributed invasive herb from the Asteraceae family. It contains compounds that can change the soil structure and its nutritional components and thus affect indigenous species’ growth, germination, and survival. Consequently, it can pose a major ecological threat to biodiversity. On the other hand, many studies show that this species, due to its chemical properties, can be used for many positive purposes in pharmacy, agriculture, medicine, cosmetic industry, etc. S. canadensis contains a diverse array of bioactive compounds that may be responsible for antioxidant, antimicrobial, and anticancer activities. Many studies have discussed the invasiveness of S. canadensis, and several chemical and genetic differences between this plant in native and introduced environments have been discovered. Previous ecological and environmental evaluations of the potential of S. canadensis as an ecosystem services provider have come out with four promising groups of its products: active extracts, essential oil, fuel, and others. Although identified, there is a need for detailed validation and prioritisation of ecosystem services. This article aims to overview the S. canadensis invasive features, emphasising chemical characterisation and its potential for providing ecosystem services. Moreover, it identifies scenarios and proposes a methodology for estimating S. canadensis use in bioeconomy.