Over the past six decades, carbonyl sulfide (COS) in terrestrial ecosystems has been extensively studied, with research focusing on exploring its ecological and environmental effects, estimating source–sink volume, and identifying influencing factors. The global terrestrial COS sink has been estimated to be about 1.194–1.721 Tg a−1, with the terrestrial sink induced by plants and soils 0.50–1.20 Tg a−1, accounting for 41%–69% of the total. Hence, the role of plants and soils as COS sinks has been extensively explored. Now we know that factors such as the activity of carbonic anhydrase (CA), leaf structural traits, soil microbial activity, and environmental factors play significant roles in the COS budget. Developments in observational techniques have also made important contributions to the COS budget. This paper provides an overview of the research progress made on COS based on a comprehensive review of the literature. Then, it highlights the current research hotspots and issues requiring further exploration. For instance, it has been demonstrated that there are still significant uncertainties in the estimation of COS sources and sinks, emphasizing the need for further exploration of COS measuring techniques. This review aims to provide comprehensive guidance for COS research in terrestrial ecosystems.