The cactus, Opuntia ficus-indica (L.) Mill. (OFI) belongs to the Cactaceae family, which contains about 130 genera and nearly 1600 species. This review aims to evaluate this plant from several perspectives, namely, botanic, physicochemical, nutritional, and medicinal properties, as well as agro-industrial use. The botanical aspects and morphological characteristics of OFI enable genetic variability, ecological adaptation, and broad geographic distribution. Due to its physicochemical and nutritional composition, it has several medicinal properties appropriate (or suitable) for several industries, such as pharmaceutical, food, and cosmetics. Its fruit, the prickly pear (PP), has potential agro-industrial expansion through the application of different conservation and transformation methods, making it possible to obtain a variety of products. The PP is a source of several nutrients and is an effective system to produce varied foods, which have several advantages from a nutritional, sensory, economic, and shelf-life point of view.