Carob (Ceratonia siliqua L.) is an evergreen tree that belongs to the Leguminosae family and grows in the arid and semi-arid regions of the Mediterranean basin. The carob tree is resistant to droughts and salinity, while its deep root systems allow CO₂ to sink, mitigating global warming effects. Traditionally, carob has been used to produce animal feed, but for many years, it was excluded from the human diet. Nowadays, agricultural and industrial sectors exploit carob fruit, also referred to as carob pod, and its primary products (i.e., flour, powder and syrup) to develop a variety of foods and beverages. The nutritional composition varies depending on the carob part but also on genetic, cultivar, seasonal and environmental factors. Despite the high sugar content, the carob pod is rich in insoluble fiber and microconstituents including phenolic compounds, inositols (mainly d-pinitol) and vitamins. In the present review article, we aimed to (a) highlight the role of carob cultivation in addressing climate change challenges and the need for sustainability, and (b) summarize the effects of carob consumption on obesity and related metabolic disorders.