Poor drug solubility with the consequent low bioavailability represents one of the main obstacles to the introduction of new drugs into the market. Several approaches were tried to improve drugs poor solubility and low bioavailability, one of these feasible approaches is by using co-crystallization technology which depends on co-crystal formation by joining the drug with another active pharmaceutical former which could alter the parent drug physicochemical properties. This review tries to highlight the main points in co-crystallization technology including co-crystals design, methods of preparation, the different ways of characterizations and diverse co-crystal applications in product development. Co-crystal design could be facilitated by different software programs like Cambridge structure database, which may aid in prediction of the cocrystal production. Various techniques were used in preparation of co-crystal including classical methods (dry grinding, wet grinding and solvent evaporation) and green methods (ultrasonic and microwave-assisted techniques). The characterization of co-crystal is a corner stone in this field. The developed co-crystal could be identified by their structure, thermal behavior and morphology. Different aspects for co-crystal applications in improving solubility, stability, taste, bioavailability and formulation performance of solid dosage forms were discussed. Indeed, co-crystal could improve flowability and compressibility of powder and consequently will help in production of tablet dosage form. Moreover, multi-drugs co-crystals have succeeded in reaching the market with great advantages in reducing the required dose to perform the pharmacological action in a synergistic performance with another pharmacological agent.