Underutilized plant species are those species with an under-exploited potential for contribution to food security, health (nutritional and/or medicinal), income generation and environmental services. They have a number of common features which make them distinct from the major commodities. One important reason for their underutilization is that they are neglected by mainstream research which did not provide solutions to agronomic and post-harvest constraints, nor did it develop attractive products for a broader market. In recent years, however, underutilized plant species have received increased attention by national research systems, policy-makers and funding institutions, recognizing the importance of this indigenous part of biodiversity for diversification of farming systems, and thus mitigating the impacts of environmental and economic disasters on the rural poor. These increased efforts need direction and focus in order to yield significant and visible impact. The International Centre for Underutilised Crops (ICUC), the Global Facilitation Unit for Underutilized Species (GFU) and the International Plant Genetic Resources Institute (IPGRI) have initiated a wide consultation process with the aim of developing a strategic framework to guide future work on underutilized species. While there are regional differences with regards to the challenges and opportunities for concerted actions on underutilized species, most of the tasks ahead are equally relevant for all parts of the world. An integrated partnership approach is proposed, focusing on the following areas for future interventions: (i) generation of new knowledge, (ii) communication of informations, (iii) policy improvement and (iv) development of markets.