Azospirillum is one of the most studied plant growth-promoting bacteria (PGPB); it represents a common model for plantbacterial interactions. While Azospirillum brasilense is the species that is most widely known, at least 22 species, including 17 firmly validated species, have been identified, isolated from agricultural soils as well as habitats as diverse as contaminated soils, fermented products, sulfide springs, and microbial fuel cells. Over the last 40 years, studies on Azospirillum-plant interactions have introduced a wide array of mechanisms to demonstrate the beneficial impacts of this bacterium on plant growth. Multiple phytohormones, plant regulators, nitrogen fixation, phosphate solubilization, a variety of small-sized molecules and enzymes, enhanced membrane activity, proliferation of the root system, enhanced water and mineral uptake, mitigation of environmental stressors, and competition against pathogens have been studied, leading to the concept of the Multiple Mechanisms Hypothesis. This hypothesis is based on the assumption that no single mechanism is involved in the promotion of plant growth; it posits that each case of inoculation entails a combination of a few or many mechanisms. Looking specifically at the vast amount of information about the stimulatory effect of phytohormones on root development and biological nitrogen fixation, the Efficient Nutrients Acquisition Hypothesis model is proposed. Due to the existence of extensive agriculture that covers an area of more than 60 million hectares of crops, such as soybeans, corn, and wheat, for which the bacterium has proven to have some agronomic efficiency, the commercial use of Azospirillum is widespread in South America, with over 100 products already in the market in Argentina, Brazil, and Uruguay. Studies on Azospirillum inoculation in several crops have shown positive and variable results, due in part to crop management practices and environmental conditions. The combined inoculation of legumes with rhizobia and Azospirillum (co-inoculation) has become an emerging agriculture practice in the last several years, mainly for soybeans, showing high reproducibility and efficiency under field conditions. This review also addresses the use of Azospirillum for purposes other than agriculture, such as the recovery of eroded soils or the bioremediation of contaminated soils. Furthermore, the synthetic mutualistic interaction of Azospirillum with green microalgae has been developed as a new and promising biotechnological application, extending its use beyond agriculture.