Agroforestry systems are deliberately designed and managed to maximize positive interactions between tree and non-tree components and encompass a wide range of practices. The fundamental idea behind the practice of AF is that trees are an essential part of natural ecosystems, and their presence in agricultural systems provides a range of benefits to the soil, other plant species and overall biodiversity. They are also increasingly recognized as a tool for mitigating climate change and also aid in adaptation of farming communities. Significant research has been carried out over the years at a range of spatial scales and the impacts of agroforestry systems researched and reported in literature. In this paper, the impacts of AF systems on various aspects such as ecology and environment, aesthetics and culture, social and economic status of farmers practicing AF and finally, climate change mitigation and adaptation is discussed, based on a review of papers over a temporal and spatial scale. The paper also based on the review, summarizes some of the negative aspects of agroforestry. The concluding section highlights some of the limitations and the need for more research on agroforestry systems, given their emerging importance in climate change mitigation and adaptation strategies.