Chelating surfactants are amphiphilic molecules capable of forming coordination complexes with metal ions and self-assembling into organized structures. These compounds have gained significant attention in recent years due to their multifaceted applications in environmental remediation, industrial processes, and material sciences. This review provides an overview of the characterization techniques and recent advancements in the applications of chelating surfactants over the past few years. The review begins by elucidating the characterization methods employed to understand the physicochemical properties of chelating surfactants and gain insight into their complex behavior and interactions in various systems. The applications of chelating surfactants in remediation of wastewater and soil, flotation of minerals, oil recovery processes, and corrosion inhibition in metallic structures are explored. Through examination of recent fundamental research activities, innovative approaches, mechanisms of action, and advancements in the different application domains are highlighted. Lastly, some recent progress in the related field of metallosurfactants is explored, even though not all metallosurfactants are chelating.