Unique among earth observation programs, the Landsat program has provided continuous earth observation data for the past 41 years. Landsat data are systematically collected and archived following a global acquisition strategy. The provision of robust data products for free since 2008 has spurred a renaissance of interest in Landsat and resulted in an increasingly widespread use of Landsat time series (LTS) for multitemporal characterizations. The science and applications capacity has developed steadily since 1972, with the increase in sophistication offered over time incorporated into Landsat processing and analysis practices. With the successful launch of Landsat-8, the continuity of measures at scales of particular relevance to management and scientific activities is ensured in the short term. In particular, forest monitoring benefits from LTS, whereby a baseline of conditions can be interrogated for both abrupt and gradual changes and attributed to different drivers. Such benefits are enabled by data availability, analysis-ready image products, increased computing power and storage, as well as sophisticated image processing approaches. In this review, we present the status of remote sensing of forests and forest dynamics using LTS, including issues related to the sensors, data availability, data preprocessing, variables used in LTS, analysis approaches, and validation issues.