Gracilaria gracilis is a benthic, intertidal red macroalga (Rhodophyta) of the commercially important Gracilaria genus. It's highly valued in scientific research for its ability to produce high-quality agar, a valuable polysaccharide widely utilised in various industries. This review serves as a guide to G. gracilis, encompassing various aspects of its biology, chemical composition, cultivation methods, and the main environmental factors influencing its growth as well as its different uses. The method used involved a descriptive analysis of articles sourced from Google Scholar, ScienceDirect, and Springer. The results of the review showed that G. gracilis is one of the best candidates for cultivation, giving an excellent resilience to salinity and temperature fluctuations and offering ease of vegetative reproduction, among others traits. It can grow in temperatures ranging from 20 to 30◦C, salinities between 25–35‰ and up to 42‰, depths ranging from 0.5 to 2.5 m, and light intensity of around 70 and 210 μmol photons m−2 s−1. Based on its chemical composition, G gracilis has many potentials as a source of high-value compounds and extracts for various uses in cosmetic, food, pharmaceutical, and biomedical industries. It is also used as a raw material or nutritious dietary item in the human diet, and can be suggested as a potential novel commercial source of phycobiliproteins.