AbstractThe global food system's reliance on a few species threatens food and nutritional security. Species diversification, including indigenous species, is a viable option to address this issue. Diversity enhances food systems' resilience against climatic and economic shocks. It offers resources for improved breeds and allows farmers to mitigate risks. However, successful diversification demands collaboration among farmers, researchers, academics, professionals, retailers, consumers, and policymakers. This review analyzes the role of crop species diversity in food system transformation, focusing on monoculture vulnerabilities, diversification benefits, indigenous species' role in nutrition and food security, and the importance of integrated policies and multi‐stakeholder collaborations. We advocate for interdisciplinary research, participatory approaches, and supportive policies to foster diverse, resilient food systems that ensure food security, biodiversity conservation, and enhanced social well‐being amidst global challenges. While acknowledging the importance of diversity in animal species for food security, the focus of this review is on crop species diversity and its potential to transform food systems.