The global food supply heavily depends on utilizing fertilizers to meet production goals. The adverse impacts of traditional fertilization practices on the environment have necessitated the exploration of new alternatives in the form of smart fertilizer technologies (SFTs). This review seeks to categorize SFTs, which are slow and controlled-release Fertilizers (SCRFs), nano fertilizers, and biological fertilizers, and describes their operational principles. It examines the environmental implications of conventional fertilizers and outlines the attributes of SFTs that effectively address these concerns. The findings demonstrate a pronounced environmental advantage of SFTs, including enhanced crop yields, minimized nutrient loss, improved nutrient use efficiency, and reduced greenhouse gas (GHG) emissions. Nevertheless, amidst these benefits, the challenges and constraints associated with these technologies, such as production expenses and potential environmental impacts of specific components, are also discussed. A comparative assessment of these SFTs emphasizes the importance of a balanced approach, considering three crucial factors: efficiency, environmental safety, and cost-effectiveness. While no single SFT achieves optimal balance across these dimensions, integrating multiple fertilizer technologies may help mitigate individual drawbacks. Also, financial and cost-to-benefit analyses are essential to gauge their applicability across diverse cropping environments. Future perspectives shed light on emerging SFTs and innovative approaches to overcome prevailing challenges and cultivate a more impactful role in fostering sustainable agriculture