The cuttlefish Sepia pharaonis Ehrenberg, 1831, is a widely distributed tropical cephalopod species in the Indo-West Pacific region. This cuttlefish is vulnerable to the influence of coastal trawlers, especially during early stages when they spawn and juveniles prey in coastal waters. The pharaoh cuttlefish is very popular worldwide because of its nutritional, medicinal, and industrial values, but the protection of wild cuttlefish populations is becoming a serious concern because of the overexploitation of wild resources and increasing demand for live cuttlefish. The development of culture techniques for pharaoh cuttlefish will help protect natural populations and biodiversity. To understand its commercial prospects, the distribution, taxonomic, biological resources, and nutritional values are summarized and reviewed. The promising culture of pharaoh cuttlefish flourished recently due to strong market demand and promising profit, and it has been facilitated by technical progress in the production of juvenile cuttlefish and commercial products. Recent advances in artificial breeding, biological resources, and biological characteristics, achievements in culture methods and regulations, the application of biotechnology in its culture and problems, and challenges to further culture are discussed in detail to capture the newest developments in pharaoh cuttlefish aquaculture.