Genetic engineering has revolutionized modern agriculture by enabling precise modification of crop genomes to enhance yield, nutritional content, and resistance to biotic and abiotic stresses. This technology offers unprecedented opportunities to address global food security challenges, yet it remains controversial due to potential environmental, health, and socioeconomic risks. This review examines the current applications, benefits, and concerns associated with genetically engineered crops, providing a balanced perspective on their role in sustainable agriculture. Key benefits include increased crop productivity, enhanced nutritional quality, reduced pesticide usage, and climate resilience. However, concerns regarding gene flow, development of resistance in target organisms, potential health effects, and socioeconomic impacts warrant careful consideration. As the global population approaches 10 billion by 2050, genetic engineering represents a critical tool in the agricultural toolkit, requiring evidence-based regulation and continued research to maximize benefits while minimizing risks.