Biocellulose, produced by Acetobacter species, displays unique properties including high mechanical strength, high water absorption capacity, high crystallinity and an ultra-fine and highly pure fiber network structure. This review article presents the existing information about biocellulose based on previous works that were conducted to improve the production of biocellulose and applications. Biocellulose, a biopolymer, is valuable for production of vital products in food, textile, medicine and agriculture due to its unique properties. Characteristics of biocellulose with respect to its structure and physicochemical properties are discussed. Current and potential applications of biocellulose in textile, nonwoven cloth, paper, films, synthetic fiber coating, food, pharmaceutical and other industries are also presented.