Glycerol, an abundant by-product of biodiesel production, has gained attention due to its price and availability for potential commercial applications, and thus utilisation as an animal feed ingredient. This article comprehensively reviews glycerol utilisation in fish and its potential as a dietary ingredient for aquaculture. While dietary inclusion of glycerol may offer cost-effective energy and metabolic intermediates, studies report inconsistent results regarding its effects on nutrient digestibility, zootechnical performance, and product quality. Recent studies however have demonstrated that dietary glycerol supplementation in fish induces metabolic shifts, such as alterations to gluconeogenesis and/or lipogenesis, modifying energy utilisation. Additionally, glycerol has been proposed to reduce protein catabolism, minimising nitrogen excretion and its environmental impact, but its influence on protein retention remains uncertain. Nevertheless, it is important to carefully consider the balance between feed palatability and these potential metabolic alterations when incorporating glycerol in aquafeeds. This review highlights the need for more studies to expand our understanding of glycerol metabolism in fish, since it does not seem to be metabolised by carnivorous species as much as omnivorous. Future research should explore the effects of glycerol supplementation on fish with different feeding habits and in developmental stages, as well as diverse environmental salinities and temperatures. Insight into the impact of impurities and the optimisation of glycerol inclusion in aquafeeds are recommended to support sustainable aquaculture practices and the utilisation of glycerol as a valuable resource.