Modern agriculture need revolutionary approaches to achieve food security while protecting natural ecosystems in the face of escalating environmental threats. By increasing biodiversity, maximizing resource usage, and providing essential ecosystem services, intercropping—an ancient but little-known technique—offers a possible path towards sustainable agriculture. By enhancing soil health and carbon sequestration, lowering greenhouse gas emissions, and restoring long-term soil fertility via nitrogen cycling, intercropping helps mitigate climate change. By incorporating biodiversity and ecosystem services into agricultural systems, intercropping systems adhere to the concepts of agroecology. Through a variety of methods, intercropping improves ecosystem services related to provisioning, regulation, support, and culture. Promoting biodiversity, which is crucial for the sustainability of agroecosystems, is one of its main benefits. Intercropping fosters pollinators, beneficial insects, and microbial ecosystems by increasing species richness, which eventually increases production and resistance against environmental stresses. Furthermore, intercropping addresses important global issues including soil degradation, biodiversity loss, and climate change by providing an economically and environmentally sound substitute for traditional farming. However, there are many activities involved, including deciding on appropriate crops, organizing planting patterns, and scheduling harvest dates. These problems may be solved with the use of research results on crop combinations, climate-resilient systems, mechanization techniques, and region-specific data. The alignment of an intercropping system with ecosystem services aimed at agricultural sustainability is the main topic of the review paper.