Eutrophic freshwater ecosystems are vulnerable to toxin-producing cyanobacteria growth or harmful algal blooms. Cyanobacteria belonging to the Nostocales order form akinetes that are similar to the seeds of vascular plants, which are resting cells surrounded by a thick membrane. They overwinter in sediment and germinate when conditions become favorable, eventually developing into vegetative cells and causing blooms. This review covers the cyanobacterial akinete of the Nostocales order and summarizes the environmental triggers and cellular responses involved in akinete germination and formation based on data from the literature. It also emphasizes the intimate and dynamic relationship that exists between the germination and formation of akinete in the annual life cycle of cyanobacteria. After comparing many published data, it is found that the tolerance ranges for factors affecting both akinete germination and formation do not differ significantly and are broadly consistent with the tolerance ranges for vegetative cell growth. However, the optimal range varies with different species and strains of cyanobacteria. The life cycle of cyanobacteria, as a result of akinete germination and formation, has a seasonal periodicity and spatial connectivity between the water column and the sediment. However, during the summer growing season, intimate coupling between akinete formation and germination can occur in the water column, and this can contribute to high population densities being maintained in the water column. During this time, shallow sediment could also provide suitable conditions for akinete germination, thereby contributing to the establishment of water column populations. The information summarized in this review is expected to help improve our shared understanding of the life cycle of the Nostocales cyanobacteria while also providing insights into the monitoring and management of harmful algal blooms.