The yeast species of the Saccharomyces genus have a long history of traditional applications and beneficial effects. Among these presence of the Saccharomyces unisporus has been documented in various dairy products and has become a subject of interest and great importance. S. unisporus has shown a significant role in the ripening of cheese and production of fermented milk products such as kefir and koumiss. The absence of pseudohyphae during the life cycle of S. unisporus is an indication of nonpathogenicity. Significance has been laid on the presence of S. unisporus in food-grade products and a close proximity of S. unisporus to S. florentinus and both of these species are accepted by the International Dairy Federation and the European Food and Feed Cultures Association for food and feed applications. Since over the years, S. unisporus has already become a part of various dairy products, S. unisporus can be considered as a potential candidate for generally regarded as safe status. S. unisporus has the capacity to convert ketoisophorone to levodione, which is an important pharmaceutical precursor. S. unisporus are considered as the potential producers of farnesol which eventually controls filamentation of pathogenic microorganisms. Apart from that, S. unisporus produces certain omega unsaturated fatty acids which combat diseases. Henceforth, the areas which S. unisporus can be possibly exploited for its useful intermediates are the enzymes and fatty acids it produces. In this context, this review attempts to describe and discuss the ubiquity of S. unisporus in food products, cellular composition, regulatory pathways, and its synthesis of fatty acids and enzymes.