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The advancement in satellite remote sensing technology has revolutionised the approaches to monitoring the Earth’s surface. The development of the Copernicus Programme by the European Space Agency (ESA) and the European Union (EU) has contributed to the effective monitoring of the Earth’s surface by producing the Sentinel-2 multispectral products. Sentinel-2 satellites are the second constellation of the ESA Sentinel missions and carry onboard multispectral scanners. The primary objective of the Sentinel-2 mission is to provide high resolution satellite data for land cover/use monitoring, climate change and disaster monitoring, as well as complementing the other satellite missions such as Landsat. Since the launch of Sentinel-2 multispectral instruments in 2015, there have been many studies on land cover/use classification which use Sentinel-2 images. However, no review studies have been dedicated to the application of ESA Sentinel-2 land cover/use monitoring. Therefore, this review focuses on two aspects: (1) assessing the contribution of ESA Sentinel-2 to land cover/use classification, and (2) exploring the performance of Sentinel-2 data in different applications (e.g., forest, urban area and natural hazard monitoring). The present review shows that Sentinel-2 has a positive impact on land cover/use monitoring, specifically in monitoring of crop, forests, urban areas, and water resources. The contemporary high adoption and application of Sentinel-2 can be attributed to the higher spatial resolution (10 m) than other medium spatial resolution images, the high temporal resolution of 5 days and the availability of the red-edge bands with multiple applications. The ability to integrate Sentinel-2 data with other remotely sensed data, as part of data analysis, improves the overall accuracy (OA) when working with Sentinel-2 images. The free access policy drives the increasing use of Sentinel-2 data, especially in developing countries where financial resources for the acquisition of remotely sensed data are limited. The literature also shows that the use of Sentinel-2 data produces high accuracies (>80%) with machine-learning classifiers such as support vector machine (SVM) and Random forest (RF). However, other classifiers such as maximum likelihood analysis are also common. Although Sentinel-2 offers many opportunities for land cover/use classification, there are challenges which include mismatching with Landsat OLI-8 data, a lack of thermal bands, and the differences in spatial resolution among the bands of Sentinel-2. Sentinel-2 data show promise and have the potential to contribute significantly towards land cover/use monitoring.